Auto suppliers rise after BofA lifts price objective
16/06/2025 15:57
** 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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