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Fly News Breaks for November 9, 2016
BWA
Nov 9, 2016 | 07:49 EDT
As previously reported, BofA/Merrill downgraded BorgWarner to Underperform from Neutral and cut its price target to $29 from $39. Analyst John Murphy said the Trump victory and Republican sweep of Congress will result in a "significant" disruption in auto volumes given Trump's goal to renegotiate NAFTA and other relationships. Murphy said a massive restructure or elimination of NAFTA would have "far reaching" repercussions on the US auto industry, potentially freezing close to 5M vehicles imported/exported between the US, Canada, and Mexico.
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