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Deutsche Bank Raises PT on BorgWarner to $73.50 (BWA)


Deutsche Bank is out with its report today on BorgWarner (NYSE: BWA), raising its price target from $66.50 to $73.50.

In a note to clients, Deutsche Bank writes, "BWA reported 4Q10 EPS of $0.89 vs DBe of $0.80. The strong results were largely driven by higher-than-expected rev growth (ex currency) of 33%; very strong vs DBe of 25% and global production of 9%. Rev growth, combined with in-line incremental margins of 24.1% resulted in 10.3% EBIT margin vs DBe of 9.4%. We are maintaining 2011 EPS estimate of $4.15 and raising 2012 to $5.25 from $4.75. Raising target price to $73.50 from $66.50 based on 14x 2012 EPS."

Deutsche Bank maintains Hold on BWA.

Shares of BWA closed Thursday at $73.77.

Posted-In: borgwarner Deutsche BankAnalyst Color Price Target Analyst Ratings


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