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Fly News Breaks for May 1, 2015
BWA
May 1, 2015 | 07:25 EDT
After Borg Warner reported weaker than expected results and lowered its guidance, Wells Fargo says that this development was expected. The firm says it was a good sign that the shares recovered most of their initial losses yesterday, while the company has a number of upcoming positive catalysts, including reduced Inefficiencies from restructuring, continued light vehicle registration momentum in Europe, and M&A. Wells keeps an Outperform rating on the shares.
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