UBS Reiterates a 'Buy' on Lear (LEA); Better Than Rxpected Q1 Margins
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Price: $124.95 +1.88%
Rating Summary:
13 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS reiterates a 'Buy' on Lear (NYSE: LEA) price target from $57 to $59.
Analyst, Colin Langan, said, "Q1 adjusted EPS of $1.38 was above our $1.25 estimate and consensus of $1.20. Strong equity income ($0.08) and higher margins ($0.03) drove upside relative to our estimate. Seating sales ($2.8b) were in-line, but margins of 6.7% were higher due to a commercial settlements and NA mix. EPMS sales of $830m were $110m below our est due to a smaller backlog benefit, but margins of 6.5% were in-line. Lear maintained its FY sales ($13.9bn-$14.4b) and net income ($490m-$520m) outlook."
UBS lowers Q2 EPS from $1.21 to $1.15, but raises FY12 EPS estimate from $5.15 to $5.20 and FY13 from $4.90 to $5.05.
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 $41.65 yesterday.
Analyst, Colin Langan, said, "Q1 adjusted EPS of $1.38 was above our $1.25 estimate and consensus of $1.20. Strong equity income ($0.08) and higher margins ($0.03) drove upside relative to our estimate. Seating sales ($2.8b) were in-line, but margins of 6.7% were higher due to a commercial settlements and NA mix. EPMS sales of $830m were $110m below our est due to a smaller backlog benefit, but margins of 6.5% were in-line. Lear maintained its FY sales ($13.9bn-$14.4b) and net income ($490m-$520m) outlook."
UBS lowers Q2 EPS from $1.21 to $1.15, but raises FY12 EPS estimate from $5.15 to $5.20 and FY13 from $4.90 to $5.05.
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 $41.65 yesterday.
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