Zacks reissued their neutral rating on shares of BorgWarner (NYSE: BWA) in a research note released on Monday morning, StockRatingsNetwork.com reports. They currently have a $86.00 target price on the stock.
Zacks’ analyst wrote, “BorgWarner saw a 1.6% increase in adjusted earnings to $1.30 per share in the first quarter of 2013, surpassing the Zacks Consensus Estimate by $0.08. However, revenues dipped 3.2% to $1.85 billion due to a 9% fall in light vehicle production in Europe. Pricing pressures from OEMs and strong competition are likely to adversely affect the company’s results. Despite these factors, the company expects annual sales growth between 2% and 6% in 2013 compared with 2012. As such, we continue with our Neutral recommendation on the stock and set a target price of $86.00.”
Shares of BorgWarner (NYSE: BWA) opened at 82.69 on Monday. BorgWarner has a one year low of $60.17 and a one year high of $85.38. The stock’s 50-day moving average is currently $78.55. The company has a market cap of $9.555 billion and a P/E ratio of 20.18.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of BorgWarner from $73.00 to $79.00 in a research note to investors on Friday, May 17th. They now have a hold rating on the stock. Separately, analysts at Guggenheim raised their price target on shares of BorgWarner from $73.00 to $75.00 in a research note to investors on Monday, April 29th. They now have a neutral rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of BorgWarner from $80.00 to $87.00 in a research note to investors on Friday, April 26th. They now have a neutral rating on the stock.
Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. BorgWarner has a consensus rating of Hold and a consensus target price of $85.67.
BorgWarner Inc. is a global supplier of engineered automotive systems and components primarily for powertrain applications.
To view Zacks’ full report, visit www.zacks.com