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Fly News Breaks for July 16, 2015
LEA
Jul 16, 2015 | 07:38 EDT
Barclays downgraded the U.S. Autos and Auto Parts sector to Negative from Neutral and cut its rating on Lear (LEA) to Equal Weight from Overweight. The firm sees further sector underperformance as China car sales continue to disappoint and Chinese production goes negative against a peak in the U.S. auto industry and a slow recovery in Europe. The firm sees limited upside for Lear given macro weakness and flat-to-negative earnings revisions and lowered its price target to $107 from $124.
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