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Fly News Breaks for March 19, 2019
LEA
Mar 19, 2019 | 07:34 EDT
Deutsche Bank analyst Emmanuel Rosner downgraded Lear Corporation to Hold from Buy and lowered his price target for the shares to $159 from $162. The analyst has concerns about the growth and margin trajectory of E-systems, and also believes Lear's Q1 earnings could be weaker than investors expect. Warning signs are accumulating in E-systems as margins have seen a three point compression and the three-year backlog of new business has declined by 25% including a large cut in 2019, Rosner tells investors in a research note. Further, he notes the head of Lear's E-systems division was recently terminated after only 10 months in the role.
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