Aptiv price target lowered to $85 from $86 at RBC Capital

RBC Capital lowered the firm’s price target on Aptiv to $85 from $86 but keeps an Outperform rating on the shares. The company’s Q2 results and an EBITDA outlook cut of only $70M despite the FY24 revenue outlook cut of $900M suggests “strong cost controls”, the analyst tells investors in a research note. The firm is reducing its FY25 EPS view to $6.33 from $7.04 but applauds the management’s decision to be aggressive with capital return amidst the current EV and ADAS investment slowdown, RBC added.