Aptiv price target lowered to $83 from $147 at Oppenheimer

Oppenheimer analyst Colin Rusch lowered the firm’s price target on Aptiv (APTV) to $83 from $147 and keeps an Outperform rating on the shares. Aptiv posted mixed Q3 results and FY24 was guided slightly lower, in line with a cautious industry outlook, but FY25 uncertainty and reduced OEM production schedules were highlighted by management, the analyst tells investors in a research note. While several customers may be rationalizing their businesses in light of low-cost competition and tepid EV sell-through, the 20% selloff Thursday looks overdone, Oppenheimer says, adding that it would be an active buyer on the weakness.