Barclays lowered the firm’s price target on BorgWarner to $55 from $57 and keeps an Overweight rating on the shares. Amid weak investor sentiment, the Q3 prints for the auto and mobility space “could be a buy-the-news quarter,” the analyst tells investors in a research note. The firm believes the UAW strike “has passed peak rhetoric” and an opportunity exists for a recovery trade in autos. Specifically, it sees several data points which may drive upside in the stocks amid cyclical recovery – especially for suppliers.
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