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Fly News Breaks for July 26, 2019
BWA
Jul 26, 2019 | 08:17 EDT
RBC Capital analyst Joseph Spak downgraded BorgWarner to Sector Perform and lowered his price target to $41, saying he is turning incrementally more negative on the stock after its Q2 results as well as acknowledgement from the management about tougher competitor pricing on turbos. The analyst also notes that while he is "intrigued" by the company's portfolio and longer-term opportunity around the industry transition from ICE to xEV, he anticipates greater margin pressure during the period of this transition over the coming quarters.
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