BorgWarner price target raised to $56 from $50 at Baird

Baird analyst Luke Junk raised the firm’s price target on BorgWarner to $56 from $50 and keeps an Outperform rating on the shares. The analyst said they posted better-than-expected 4Q22 results/solid guidance. More importantly, management also sees 2023 midpoint EV sales doubling which is likely responsible for the stock’s positive reaction.