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Analysts David Leiker, Joseph Vruwink and Adam Schmitz expect the event to throw some light on the ways BorgWarner could take part in the "next-gen" automotive technologies or enhancements on internal combustion engines. The brokerage expects meaningful upside driven by growth in revenue and margin inflection. The lead analyst believes the company has already commenced these gains and EPS growth from the second quarter itself.
In a research note to clients, Baird said, "BorgWarner has a broad range of technologies for improving internal combustion engines to meet rising global emissions standards along with a portfolio of technologies for mild/full hybrids and full electric vehicles. This includes technologies for stop-start, 48-volt mild hybrids (e-turbos/boosters, starter-generators), advanced transmissions and electric vehicle powertrains/components."
The lead analyst listed three factors to support his opinion. The key among them is the end of the downgrade revision after two years, while the second factor is the robust year-over-year EPS uptick in two-year period and the third is that the second quarter performance was the first "beat-and raise" over a period of time.
Therefore, the brokerage reiterated its Outperform rating and price tag of $46 on the company's shares.
Following the news, the stock traded up by $0.38, or 1.08 percent, to $35.48.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.