BorgWarner Inc

BWA: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$45.00	Gkdhhmw	Slpdjqmm

BorgWarner: After Completion of Phinia Spinoff, We Lower Our Fair Value Estimate to $72

Richard Hilgert

Jul 5, 2023

Narrow-moat-rated BorgWarner has completed the spinoff of Phinia, its former fuel systems and aftermarket business segments. Remaining business segments include air management, drivetrain and battery systems, and e-propulsion. Our new fair value estimate is $72 per share, down from $81 before the spinoff. The 4-star-rated shares of BorgWarner currently trade at an attractive 38% discount to our new fair value estimate.

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