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Fly News Breaks for March 29, 2016
MGA, BWA
Mar 29, 2016 | 13:31 EDT
As previously reported, Citi analyst Itay Michaeli downgraded BorgWarner (BWA) to Neutral citing relative valuation with the shares near his unchanged price target of $37. The analyst points out that Magna (MGA) trades at a "meaningful P/E discount" to BorgWarner.