Why BorgWarner Stock Is Down Big on Some Quote Services Today
On Monday, auto parts supplier (NYSE: BWA) completed the spinoff of its fuel systems and aftermarket businesses into a new publicly traded company. The all-stock split is creating confusion on some websites that track stock prices, causing BorgWarner shares to appear down more than 10% in Wednesday trading.
BorgWarner is an automotive industry specialist that traces its roots back to 1928, but the company is a standout for investors these days due to its focus on the future. It's making moves to position itself as one of the most important parts suppliers in the electric vehicle segment, and that has meant parting ways with some of its legacy assets.
On Monday, the company passed a major milestone in that effort when it completed its spinout of Phinia to shareholders. The new company includes much of what used to be BorgWarner's internal-combustion engine business, as well as the spare parts business that supports that operation.
Source Fool.com
Borgwarner Inc. Stock
With 23 Buy predictions and not a single Sell prediction Borgwarner Inc. is an absolute favorite of our community.
With a target price of 41 € there is a positive potential of 34.32% for Borgwarner Inc. compared to the current price of 30.53 €.
