Guggenheim lowered the firm’s price target on Aptiv to $120 from $138 and keeps a Buy rating on the shares following the company’s Q3 report. The firm is lowering its price target to reflect its expectation for slower gross margin expansion through 2025. While the firm remains confident in a “strong” algorithm, it believes slower high-voltage trends could adversely impact margins by 100-200 basis points in the near term, the analyst tells investors.
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