TD Cowen lowered the firm’s price target on BorgWarner to $36 from $40 and keeps an Outperform rating on the shares. The firm said 2024 guidance came in lower than expected given delayed product eProduct launches. Management emphasized that a general shift of OEM production from EV’s to PHEV does not affect operations or R&D, as eProducts are designed for either use.
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Read More on BWA:
- BorgWarner Announces Quarterly Cash Dividend Distribution
- BorgWarner enters relationship pact with BYD subsidiary for LFP battery packs
- BorgWarner sees FY24 adjusted EPS $3.65-$4.00, consensus $4.27
- BorgWarner Reports Full Year 2023 Results, Expects 2024 eProduct Sales to Grow Approximately 25% to 40%
- BORGWARNER DECLARES QUARTERLY DIVIDEND
