Aptiv upgraded to Neutral from Underweight at Piper Sandler

Piper Sandler upgraded Aptiv to Neutral from Underweight with a price target of $80, down from $82. The company’s’ Q3 results capped a selloff that began in August, and given Aptiv’s proximity to the new price target, it is “time to temper our bearishness,” the analyst tells investors in a research note. The firm still doubts Aptiv’s ability to achieve long-term operating margin guidance of 17%, but also thinks investors are “fretting too much about a delay in electric vehicle launch activity.”