JPMorgan analyst Ryan Brinkman lowered the firm’s price target on BorgWarner to $55 from $59 and keeps an Overweight rating on the shares. The analyst previewed quarterly earnings for the U.S. auto parts supplier sector by raising estimates across the board to “solidly above consensus levels” on the back of a “surprisingly resilient” consumer and very strong demand from fleet customers. This led to higher than expected global light vehicle production in Q2, the analyst tells investors in a research note.
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