JPMorgan initiated coverage of Garrett Motion (GTX) with an Overweight rating and $23 price target which offers 36% upside. Battery electric vehicles are likely to grow much less quickly than earlier expected, representing a “materially less headwind” to Garrett Motion’s core internal combustion turbocharging business, the analyst tells investors in a research note. The firm expects Garrett to grow its turbocharger business over the medium-term with high visibility into market share gains.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GTX:
- Garrett Motion price target raised to $21 from $20 at Stifel
- Garrett Motion price target raised to $22 from $17 at BWS Financial
- Garrett Motion announces $250M share repurchase program for 2026
- Garrett Motion’s Strong Q3 Performance and Growth Prospects Earn ‘Buy’ Rating
- Garrett Motion price target raised to $20 from $17 at Stifel