BorgWarner price target raised to $76 from $67 at KeyBanc KeyBanc increased its price target on BorgWarner as the firm thinks the company's Q2 results could be significantly better than expected. The firm also believes that the company's FY14 EPS could beat Street expectations by as much as 10%. The firm reiterates a Buy rating on the shares.
BorgWarner provides R2S turbocharging technology to Volkswagen BorgWarner (BWA) provides its two-stage, or R2S, turbocharging technology for Volkswagen's (VLKAY) new high-performance diesel engine. Engineered to comply with the Euro 6 emissions standard, the 2.0-liter four-cylinder engine is the most powerful diesel engine in its class.
BorgWarner downgraded to Equal Weight from Overweight at Barclays Barclays downgraded the U.S. Autos and Auto Parts sector to Negative from Neutral and cut its rating on BorgWarner (BWA) to Equal Weight from Overweight. The firm sees further sector underperformance as China car sales continue to disappoint and Chinese production goes negative against a peak in the U.S. auto industry and a slow recovery in Europe. The firm sees risk to BorgWarner estimates given a slowing economy and China headwinds and lowered its price target to $55 from $70.