BorgWarner price target lowered to $45 from $47 at Morgan Stanley

Morgan Stanley analyst Evan Silverberg lowered the firm’s price target on BorgWarner to $45 from $47 and keeps an Overweight rating on the shares. The firm said that Q3 U.S. supplier results were largely in-line but triggered some volatile stock reactions. While investors hit the exits on EV-exposed names, the firm sees value emerging in the ICE-exposed lineup.