BorgWarner upgraded to Outperform at Wolfe Research after pullback

As previously reported, Wolfe Research upgraded BorgWarner (BWA) to Outperform from Peer Perform with a $68 price target While some investors are “understandably skeptical,” the combination of competitive specs, tight supply/demand, and “a compelling TCO” could make Power Generation an “attractive” opportunity for BorgWarner that is not priced in after the stock pullback, the analyst tells investors. Even under “conservative assumptions,” the firm thinks this could represent about $2B in revenue at scale, contributing $23 per share in value, the analyst added.