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Fly News Breaks for February 14, 2018
LEA
Feb 14, 2018 | 05:52 EDT
Citi analyst Itay Michaeli raised his price target for Lear Corporation to $234 saying he sees more room for multiple expansion following the company's "strong" Q4 results. The new price target reflects higher estimates and modestly higher target multiples to reflect Lear's "impressive" backlog growth, strategic new business wins and "increasingly relevant" car of the future positioning, including for seats, Michaeli tells investors in a post-earnings research note. The analyst views the stock's risk/reward as compelling and reiterates a Buy rating on Lear.
News For LEA From the Last 2 Days
LEA
Mar 18, 2024 | 07:34 EDT
After assessing the initial Q1 setups for the U.S. auto stocks based on recent data points, Citi opened an overweight Magna (MGA), underweight Lear (LEA) pair trade. The firm says March data affirm its preference for automakers over suppliers into Q1. From a revenue exposure perspective, Magna "seems somewhat more de-risked" than Lear, having less exposure to China, slightly more exposure to Europe and somewhat less trim-mix exposure, the analyst tells investors in a research note.