Aptiv Stock Sell-off Post Q1 Results was Unwarranted, UBS Says
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UBS stated that the recent sell-off of Aptiv (APTV) stock following Q1 results was unwarranted, attributing it to a lower-than-expected Q2 guidance and rising cost pressures. Despite challenges in Q2, including stranded costs and Ford's volume timing, UBS believes the second half of the year will show positive growth, particularly in China. The firm maintained a buy rating with a price target of $80 per share. Aptiv shares rose 4% in trading, closing at $56.47.
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