** Shares of auto suppliers jump after BofA Global Research raise price objective
** U.S.-listed shares of Magna International MG.TO up 2% at $38, Aptiv APTV.BN rises 3% to $69 and BorgWarner BWA.N up 1% at $33, in early trade
** BofA remains constructive on auto suppliers as it expects current headwinds to dissipate in 2025 and also expects demand to grow in future
** However, tweaks volume estimates of companies in 2025 and 2026 slightly lower due to pending disruptions from tariffs, potential rare earth shortages, and macro volatility
** Rating of BorgWarner and Aptiv unchanged at 'buy' and Magna unchanged at 'neutral'
Company | New PT | Old PT |
Magna | $45 | $42 |
Aptiv | $85 | $80 |
Borgwarner | $41 | $35 |
(Reporting by Apratim Sarkar)
((Apratim.Sarkar@thomsonreuters.com))