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BorgWarner (BWA) Stock Downgraded at Morgan Stanley

NEW YORK (TheStreet) -- BorgWarner (BWA - Get Report) stock was downgraded to "underweight" at Morgan Stanley on Monday with a price target of $37.

The Auburn Hills, MI-based supplier of engineered automotive systems was downgraded due to several challenges in the automotive industry, Benzinga reports.

BorgWarner will be impacted by lower fuel prices on internal combustion technology and "competition from active safety and improved EV economics from shared mobility," Morgan Stanley analyst Adam Jonas said.

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BorgWarner's future profitability is likely to be affected by potential lower growth at Volkswagen (VLKAY), which is the company's biggest customer, Jonas said.

Volkswagen's emissions scandal could further threaten the "growth sustainability of internal combustion technology," Benzinga reports.

Shares of BorgWarner closed down 1.95% to $42.79 today.

Separately, TheStreet Ratings team rates BORGWARNER INC as a Buy...


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