Aptiv price target raised to $103 from $89 at Wells Fargo

Wells Fargo analyst Colin Langan raised the firm’s price target on Aptiv (APTV) to $103 from $89 and keeps an Overweight rating on the shares. The firm increased price targets in the autos and auto parts group after analyzing free cash flow sand capital deployments. Most suppliers are near their max leverage thresholds and will accumulate cash to de-lever, the analyst tells investors in a research note. Wells calls BorgWarner (BWA), TE Connectivity (TEL) and Visteon (VC) the “highest quality names” in group given their secular growth and operating efficiency.