Aptiv price target raised to $84 from $79 at Wells Fargo

Wells Fargo raised the firm’s price target on Aptiv to $84 from $79 and keeps an Equal Weight rating on the shares. The firm notes Aptiv traded down 6% after lowering its long-term target GoM target by 2%. However, the company guided to about $400M increase in adjusted EBIT at the midpoint, driven by performance offsetting labor inflation.