BorgWarner price target raised to $40 from $39 at Oppenheimer

Oppenheimer raised the firm’s price target on BorgWarner to $40 from $39 and keeps an Outperform rating on the shares. BorgWarner beat on the top and bottom lines in Q1 and raised its adjusted EPS guidance midpoint above the Street for FY24, the analyst tells investors in a research note. Management highlighted growth opportunities within the foundational business and hybrids as supportive of North American market outgrowth, and recommitted to deliver all-in mid-teens incrementals going forward, the firm notes.