BorgWarner price target lowered to $39 from $42 at Oppenheimer

Oppenheimer lowered the firm’s price target on BorgWarner to $39 from $42 and keeps an Outperform rating on the shares. BorgWarner reported below-consensus Q4 results and FY24 guidance as eProducts revenue cadence and profitability expectations remained in focus, the analyst tells investors in a research note. The firm sees indicators of eProducts business maturing as the company demonstrates scale capacity in power electronics and e-motors while ramping battery manufacturing and securing strategic suppliers.