BorgWarner (BWA.N) gains on Morgan Stanley upgrade to overweight
Shares of auto parts supplier BorgWarner rose 5.3% premarket to $63.4 after Morgan Stanley upgraded the stock to "overweight" from "equal-weight" and raised its price target.
26. The brokerage said a slower-than-expected shift to electric vehicles, along with resilient demand for gasoline-powered and hybrid vehicles, could support the company's earnings outlook. Morgan Stanley also said BorgWarner's emerging data-center power generator business may become a new source of growth and higher-margin earnings, while it expects contracting activity to accelerate into 2027. It added that overcoming the hurdle of initial customer adoption remains a risk.
LSEG data showed 12 of 16 brokerages rate the stock "buy" or higher and four rate it "hold", with a median target price of $80. 4 premarket.