Auto suppliers rise after BofA lifts price objective
ReutersJun 16, 2025 2:57 PM
Shares of auto suppliers jump after BofA Global Research raise price objective
U.S.-listed shares of Magna International MG.TO up 2% at $38, Aptiv APTV.BN rises 3% to $69 and BorgWarner BWA.N up 1% at $33, in early trade
BofA remains constructive on auto suppliers as it expects current headwinds to dissipate in 2025 and also expects demand to grow in future
However, tweaks volume estimates of companies in 2025 and 2026 slightly lower due to pending disruptions from tariffs, potential rare earth shortages, and macro volatility
Rating of BorgWarner and Aptiv unchanged at 'buy' and Magna unchanged at 'neutral'
Company | New PT | Old PT |
Magna | $45 | $42 |
Aptiv | $85 | $80 |
Borgwarner | $41 | $35 |
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