In a report released today, Noah Kaye from Oppenheimer maintained a Buy rating on BorgWarner (NYSE: BWA), with a price target of $58. The company’s shares closed yesterday at $44.17, close to its 52-week low of $42.06.
Kaye commented:
“Yesterday we attended an Investor Day hosted by Garrett, Honeywell’s powertrain spin-off. BorgWarner holds a close second position in turbocharger market share behind Garrett, whose management made a strong case for growing turbo penetration over the next five to seven years. Beyond that, we see support for several tenets of our BWA investment thesis. First, we view BorgWarner’s positioning on electrification as relatively attractive. Per our EV Tracker, global BEV sales are currently outpacing PHEVs. While that trend could well reverse, we favor platforms with a balanced product portfolio across propulsion types, and see BorgWarner as well positioned. Second, we see technology trends enabling BWA’s transition from component supplier to strategic propulsion partner. We believe BWA’s upcoming Day could help solidify these points for investors.”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 6.3% and a 57.1% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation Inc, Caterpillar, and Cummins.
BorgWarner has an analyst consensus of Strong Buy, with a price target consensus of $58.29.
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The company has a one-year high of $58.22 and a one-year low of $42.06. Currently, BorgWarner has an average volume of 1.89M.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock.
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BorgWarner, Inc. operates as a clean and efficient technology company. It offers solutions for combustion, hybrid and electric vehicles. Its products improve vehicle performance, propulsion efficiency, stability and air quality. The company also manufactures and sells products to tier one vehicle systems suppliers.
