BorgWarner price target lowered to $42 from $45 at Oppenheimer

Oppenheimer lowered the firm’s price target on BorgWarner to $42 from $45 and keeps an Outperform rating on the shares. BorgWarner cut FY23-FY25 e-Products growth expectations while maintaining its FY23 adjusted EBIT outlook and FY27 targets, the analyst tells investors in a research note. Oppenheimer thinks breakeven e-Propulsion margins are achievable within the next 12 months depending on investment spend cadence.