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Deutsche Bank Downgrades Lear (LEA) to Hold

July 28, 2014 6:49 AM EDT
Get Alerts LEA Hot Sheet
Price: $140.41 +0.16%

Rating Summary:
    14 Buy, 15 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Deutsche Bank downgraded Lear (NYSE: LEA) from Buy to Hold with a price target of $103.00 (from $100.00). The change is tied to valuation.

Analyst Rod Lache said, "Lear reported Q2’14 EPS estimate of $2.12; well ahead of our $1.92 estimate and consensus of $1.97. Results were strong across the board. Revenue was stronger than expected in both segments, and both segments also exceeded margin forecasts (Seating came in at 5.7% vs. our 5.5% est. and 5.8% in Q2’13; EPMS achieved 12.5% vs. our 12.1% est and 9.7% in Q2’13. Lear increased their core operating income guidance to $975MM-$1,025MM from $935MM-$985MM, and we see potential for upside to these numbers (EBIT could be $10MM and EPS $0.09 if EPMS margins are held at 12%). We are lowering the stock to Hold based on valuation."

For an analyst ratings summary and ratings history on Lear click here. For more ratings news on Lear click here.

Shares of Lear closed at $99.00 yesterday.



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