Aptiv upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Aptiv (APTV) to Overweight from Equal Weight with a price target of $105, up from $85. The shares have rallied recently due to favorable end market data points and improved market sentiment, but there is more upside ahead, the analyst tells investors in a research note. The firm sees Aptiv benefiting from improved business dynamics and a “reasonable” share valuation. There is also increased interest in the company’s planned spin of its Electrical Distribution Systems business, contends Barclays.