Lear, IMS Connector Systems partner on high speed ethernet solutions » 08:0306/1606/16/21
Lear announced that it…
Lear announced that it has signed a joint development agreement with IMS Connector Systems GmbH, a technology company based in Loffingen, Germany, specializing in high-speed Ethernet solutions for automotive applications. Lear and IMS Connector Systems expect availability of a fully validated product beginning in 2023.
|Over a month ago|
Lear price target raised to $210 from $185 at Morgan Stanley » 07:5805/1305/13/21
Morgan Stanley analyst…
Morgan Stanley analyst Adam Jonas raised the firm's price target on Lear to $210 from $185 and keeps an Overweight rating on the shares as he marked to market his earnings forecasts and made changes where appropriate following what he calls "broadly better than expected" Q1 results across the auto supplier group.
Lear price target raised to $187 from $184 at Barclays » 07:1305/1005/10/21
Barclays analyst Brian…
Barclays analyst Brian Johnson raised the firm's price target on Lear to $187 from $184 and keeps an Equal Weight rating on the shares following the Q1 results.
Lear raises FY21 revenue view to $20.35B-$21.15B from $19.8B-$20.8B » 06:4605/0705/07/21
Consensus $20.42B. Sees…
Consensus $20.42B. Sees FY21 adjusted EBITDA $1.7B-$1.87B. Sees FY21 capital expenditures $625M. Guidance reflects the semiconductor and other component shortages impacting the industry. These impacts are expected to continue in the second quarter, and to a lesser extent, in the second half of the year.
Lear reports Q1 adjusted EPS $3.73, consensus $2.95 » 06:3305/0705/07/21
Reports Q1 revenue…
Reports Q1 revenue $5.35B, consensus $4.89B. Reports cash and cash equivalents at quarter-end of $1.4B and total available liquidity of $3.1B. "Despite multiple challenges, including component shortages impacting industry production, the Lear team delivered strong financial results in the first quarter," said Ray Scott, Lear's president and CEO. "Our leadership position in operational excellence is driving new business wins and significant growth over market in Seating and E-Systems. We continue to invest in innovation and technology to further strengthen our competitive position. As we execute our strategy, Lear is poised to benefit from a growing industry, to increase market share and earnings in both business segments, and deliver superior returns to our shareholders."
Barclays shuffles ratings in Auto Parts into 'summer recovery' » 08:5104/1504/15/21
MGA, LEA, VC, DAN
The semiconductor chip…
The semiconductor chip shortage will get worse in Q2 but abate in the second half of 2021, Barclays analyst Brian Johnson tells investors in a research note on the U.S. Autos and Auto Parts sector. The analyst is rotating some of his favorite names into the "summer recovery," upgrading Magna International (MGA) with a price target of $115, up from $87, and downgrading both Lear (LEA) and Visteon (VC) to Equal Weight from Overweight with price targets of $184 and $130, respectively. Magna joins Dana (DAN) as a favored name from Johnson given its "significant progress" in building out a dedicated electric vehicle platform. The analyst views Lear as "more fully valued" at current share levels and sees "elevated headwinds" for Visteon in the near term from the chip shortage.
Lear downgraded to Equal Weight from Overweight at Barclays » 08:2504/1504/15/21
Barclays analyst Brian…
Barclays analyst Brian Johnson downgraded Lear to Equal Weight from Overweight with an unchanged price target of $184. The analyst does not expect any major catalysts in the near future following the E-Systems product day. He views Lear shares are more fully valued at current levels.
Lear price target raised to $210 from $186 at Jefferies » 08:4104/0604/06/21
Jefferies analyst David…
Jefferies analyst David Kelley raised the firm's price target on Lear to $210 from $186 and keeps a Buy rating on the shares despite lowering his first-half estimates for his pure play auto supplier coverage given how supply chain disruption has intensified into Q2 While he believes earnings commentary and guides from the group will drive Q2 estimate cuts and likely pressure the fiscal year trajectory, Kelley continues to see an "inevitable restock as a meaningful driver of earnings snapback," he tells investors.
Lear price target raised to $195 from $185 at KeyBanc » 08:1503/2903/29/21
KeyBanc analyst James…
KeyBanc analyst James Picariello raised the firm's price target on Lear to $195 from $185 and keeps an Overweight rating on the shares. The analyst believes E-Systems is a favorable earnings growth accelerator to Seating in support of gradual multiple expansion. Via a focus on value-add design and vertically integrated growth, Picariello consider E-Systems 2025 targets highly achievable amid OEMs' "clean slate" approach in EV platforms, structurally driving direct CPV opportunities in addition to sizable share gain runway in traditional engineered components content.
Lear initiated with an Overweight at Wells Fargo » 16:1303/2503/25/21
Wells Fargo analyst Colin…
Wells Fargo analyst Colin Langan initiated coverage of Lear with an Overweight rating and $214 price target. The analyst expects a few quarters of "relatively stable" E-Systems margins to ease investor concerns about potential further declines in the segment. This should re-focus investors on the "strong" core Seating business, and the electric vehicle and connected growth opportunities from E-Systems investments like Xevo, says the analyst. He believes Lear's free cash flow and growth are underappreciated at current share levels.