Aptiv falls after Barclays cuts rating on growth uncertainty

Mobileye Global

15/04/2025 13:27

** U.S. listed shares APTV.N of auto parts maker Aptiv fall 3.1% to $48.56 premarket

** Barclays downgrades rating on company's shares to "equal weight" from "over weight", cuts PT to $55 from $80

** Also downgrades ratings for peers Mobileye Global MBLY.O and Visteon VC.O to "equal weight" from "over weight"

** "We believe the vast majority of pressure on the stocks over the past couple years has been a function of a weaker growth narrative, with a more muted growth outlook currently priced in" - Barclays

** Brokerage says current tariff policy pressures "re-emergence" of growth for the companies

** Says APTV could be under more pressure if U.S. administration ultimately proceeds with tariffing non-U.S. content in vehicles, given company's manufacturing exposure in Mexico

** 17 brokerages rate the stock "buy" or higher, 6 "hold" and 1 "sell"; median PT $77 - LSEG

** As of last close, stock down 17.2% YTD

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))