Credit Suisse Maintains an 'Outperform' on Lear (LEA); Brings the Beat, but With a Muted Raise

Credit Suisse maintains an 'Outperform' on Lear (NYSE: LEA), raises PT by $1 to $73.

Credit Suisse analyst said, "For 2011, our 2Q and 3Q estimates moved lower, while 4Q moved higher, reflecting the change in timing of earnings from the Japan impact. More importantly, our expectations for both sales and profitability in the out years improved, with higher expectations from both segments. Our 2012 EPS increased to $5.64 (from $5.48) and 2013 increased to $5.96 (from $5.78). Our 2011 full year estimate is relatively flattish at $4.89 (from $4.87) with additional profit from the 1Q beat mostly offset by lost profit from the 2Q/3Q Japanese impact."

For more ratings news on Lear click here and for the rating history of Lear click here.

Shares of Lear closed at $49.97 yesterday.

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