BorgWarner price target raised to $44 from $37 at Piper Sandler

Piper Sandler analyst Alexander Potter raised the firm’s price target on BorgWarner (BWA) to $44 from $37 and keeps an Overweight rating on the shares following solid Q2 results. The firm notes the company’s diversified drivetrain portfolio is working as intended, with foundational products continuing to generate margin-accretive revenue, while e-products are delivering growth in hybrid and fully-electric applications. Increased guidance implies mid-teens incremental margin, in line with the company’s target range, and given recent performance, Piper is inclined to believe BorgWarner can achieve this outlook.