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LEA

Lear

$124.46

3.21 (2.65%)

06:30
10/06/16
10/06
06:30
10/06/16
06:30

Lear downgraded to Sell from Neutral at Goldman

Goldman analyst downgraded David Tamberrino Lear to Sell from Neutral and lowered its price target to $107 from $116. The analyst believes expectations are elevated and are now at the high end of management's guidance. He believes shares are more fairly value and could see a pullback on only achieving current earnings estimates.

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LEA Lear
$124.46

3.21 (2.65%)

06/21/16
06/21/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgraded with this list compiled by The Fly: 1. Werner (WERN) downgraded to Hold from Buy at Deutsche Bank, to Underperform from Neutral at BofA/Merrill, and to Neutral from Overweight at JPMorgan with JPMorgan analyst Brian Ossenbeck remaining negative on the truckload cycle. 2. Knight Transportation (KNX) downgraded to Neutral from Buy at BofA/Merrill with the firm saying the truckload market remains under pressure given excess capacity and soft freight demand. 3. Lear (LEA) downgraded to Neutral from Buy at BofA/Merrill with analysts led by John Murphy arguing the later stages of the U.S. cycle will likely pressure the multiple and limit upside. 4. USA Compression (USAC) downgraded to Sell from Neutral at Goldman with analyst Theodore Durbin saying the company's high leverage brings risk of a distribution cut. 5. Prologis (PLD) downgraded to Hold from Buy at Deutsche Bank with analyst Vin Chao saying the risk/reward is more balanced at current valuation levels. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/09/16
GHSC
08/09/16
INITIATION
GHSC
Neutral
Lear initiated with a Neutral at Seaport Global
09/08/16
KEYB
09/08/16
NO CHANGE
KEYB
Lear now owns competing technology to Gentherm's, says KeyBanc
KeyBanc analyst st Brett Hoselton views Lear's (LEA) minority interest in Tempronics, and Lear's exclusive rights to its thermoelectric seat heating and cooling technology, as a materially negative read through for Gentherm (THRM). The analyst believes Gentherm's revenue outlook of +10% remains optimistic given Lear is 22% of revenues, margins likely to be impacted given increased sourcing options, and the company's products are increasingly less proprietary and less advanced. Hoselton rates Gentherm a Sector Weight.
09/09/16
JPMS
09/09/16
NO CHANGE
Target $44
JPMS
Overweight
JPMorgan says buy Gentherm following yesterday's selloff
JPMorgan analyst Samik Chatterjee attributes the 8.5% selloff yesterday in shares of Gentherm (THRM) to competitive concerns after seating supplier Lear (LEA) announced a strategic partnership with a start-up stage company called Tempronics. The partnership grants Lear exclusive rights to manufacture and sell thermoelectric seat heating and cooling products using Tempronics technology, Chatterjee tells investors in a research note. The analyst offers 10 reasons to buy shares of Gentherm, including the Tempronics product only being in a "nascent stage" and that the near-term impact to Gentherm's financials will be limited given the long design and product development cycle in. Chatterjee has an Overweight rating on Gentherm with a $44 price target.

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