Baird downgraded BorgWarner (BWA) to Neutral from Outperform with a price target of $39, down from $45. The analyst elevated Gentex (GNTX) to the firm’s top idea for 2024 in the vehicle technology and mobility sector while downgrading both Aptiv (APTV) and BorgWarner to Neutral. Baird says “too much patience is now required” for BorgWarner shares amid increased electrification risks. The company’s decision to aggressively pursue eProducts is right long-term, but the market’s ability to judge progress appears impaired near term, the analyst tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BWA:
- BorgWarner CFO Kevin Nowlan to retire, Craig Aaron to succeed
- BorgWarner Completes Acquisition of Eldor Corporation’s Electric Hybrid Systems Business Segment
- BorgWarner price target lowered to $38 from $44.75 at Citi
- Intel upgraded, Target downgraded: Wall Street’s top analyst calls
- BorgWarner upgraded to Buy from Neutral at Guggenheim