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UPDATE: Barclays Upgrades Lear

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Barclays 'Baffled' By Lear Shares' Underperformance
Earnings Scheduled For July 28, 2016
There's More Than One Way to Find a Great Stock (GuruFocus)

Shares of Lear (NYSE: LEA) are trading up about 2.5 percent Monday following both an upgrade by Barclays from Equal-weight to Overweight and a $20 increase in the price target from $93 to $113.

Barclays analyst Brian Johnson attributed the upgrade to Lear's potential for growth in its electrical business, which Johnson noted now accounts for 40 percent of Lear's earnings.

For the second quarter, Johnson is above EBIT consensus by $9 million at $254 million. His optimism is driven by both revenue upside and "better-than-expected" margins.

Latest Ratings for LEA

DateFirmActionFromTo
Aug 2016Seaport GlobalInitiates Coverage onNeutral
Aug 2016CitigroupMaintainsBuy
Jul 2016JP MorganMaintainsNeutral

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Posted-In: Barclays Brian JohnsonAnalyst Color Upgrades Price Target Analyst Ratings

 

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