TD Cowen analyst Jeffrey Osborne lowered the firm’s price target on BorgWarner to $40 from $53 and keeps an Outperform rating on the shares. The firm noted the company lowered its eProduct revenue guide for 2023 again after doing so in 2Q23. The FY25 guide was lowered as well. The change reflects a slower than expected ramp across the EV market which first began in China and is now expected in North American and European brands.
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