Aptiv's (APTV) 2026 earnings before interest, taxes, depreciation, and amortization is expected to grow at a high single-digit pace as software, services, and non-automotive segments take up a larger share of revenue, RBC Capital Markets said in a note Tuesday.

The company's 2026 adjusted EBITDA midpoint guidance of $3.5 billion exceeds consensus, helped by rising volumes and operational improvements, RBC said.

Margins are forecast to expand through Aptiv's growing exposure to robotics, drones, and other non-auto areas, despite costs tied to the Versigent spinoff and investments, RBC analysts noted.

RBC said it expects the pending Versigent spinoff on April 1 to unlock shareholder value, with Aptiv potentially re-rated higher after the separation.

RBC maintained an outperform rating and $104 price target for Aptiv.

Shares of the company were up over 2% in recent trading.

Price: 80.00, Change: +1.99, Percent Change: +2.54