Upgrade Alert for BorgWarner (BWA)
BorgWarner (NYSE:BWA) was upgraded from Hold to Buy at Gabelli & Co today. The stock closed yesterday at $50.24 on volume of 2.7 million shares, above average daily volume of 1.8 million.
BorgWarner, Inc. supplies engineered systems and components, primarily for automotive powertrain applications. The Company's products are manufactured and sold worldwide, primarily to original equipment manufacturers of passenger cars, sport utility vehicles, and light trucks. BorgWarner operates manufacturing facilities in North America, Europe, and Asia.
BorgWarner has overhead space with shares priced $50.24, or 29.3% below the average consensus analyst price target of $71.08. BorgWarner shares should first meet resistance at the 50-day moving average (MA) of $59.12 and find additional resistance at the 200-day MA of $60.51.
In the past 52 weeks, BorgWarner share prices have been bracketed by a low of $49.71 and a high of $67.49 and closed yesterday at $50.24, 1% above that low price. The 200-day and 50-day moving averages have moved 0.11% lower and 1.14% lower over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of BorgWarner on September 15th, 2014 by issuing a Downtrend alert when the shares were trading at $59.55. Since that call, shares of BorgWarner have fallen 15.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades BorgWarner