BorgWarner price target lowered to $36 from $38 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on BorgWarner to $36 from $38 and keeps a Neutral rating on the shares as part of a broader research note on U.S. Autos and Industrial Techs. The firm is lowering its forecast for U.S. SAAR to reflect weaker sales year-to-date as SAAR has averaged about 15.5M – which is up low single digits but below the mid single digit growth outlook that its prior forecast implied0 – as well as a decline in vehicle purchase intentions among lower-income consumers per surveys from HundredX, the analyst tells investors in a research note.