Piper says Aptiv shouldn’t rely so heavily on ’20th-century automakers’

Piper Sandler analyst Alexander Potter raised the firm’s price target on Aptiv to $82 from $80 and keeps an Underweight rating on the shares. While "convinced" that Aptiv understands how to build the "brain and nervous system" of a contemporary passenger car, an effort to modernize old-school car companies "is a tenuous strategy" because most car companies will be unable to profitably compete against Tesla (TSLA), "with or without Aptiv’s help," Piper contends. In that context, the firm thinks Aptiv "should pursue a strategy that doesn’t rely so heavily on the continued solvency of 20th-century automakers," Piper added.