Lear (LEA) PT Raised to $195 at Oppenheimer After E-Systems Day
- S&P 500, Dow climb for third day and close at records
- Tesla (TSLA) China Numbers 'Robust' - Wedbush
- Apple (AAPL) Shares Seen as 'Attractive' as Recent Checks Show Continuously Strong Demand - Citi
- Investors Poured More Money Into Stocks in Past 5 Months Than Last 12 Years, Says BofA, Analysts Worried About Stretched Valuations
- Amazon.com warehouse workers vote to reject forming union in Alabama
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Oppenheimer analyst James Picariello raised the price target on Lear (NYSE: LEA) to $195.00 (from $185.00) while maintaining a Outperform rating after attending the company's E-Systems Day where LEA provided 2025 targets for E-Systems consisting of ~$7.5B in sales (vs. ~$5.3B guided for 2021) and ~10% operating margins, which now establishes a highly achievable mid-term bar. Electrification revenue is positioned at a +30% CAGR to ~$1B in EV sales (vs. $385M in 2021), of which $725M is already booked.
The analyst stated "We see further upside to this target should GM utilize LEA's battery disconnect unit (est. all-in CPV $600-$800) currently awarded on the GMC Hummer across its Ultium line, which we est. represents $600M-$800M of annualized revenue potential by 2025. Similarly, LEA's battery plug board likely supplies (we est.) ~1.3M VW MEB vehicles by 2025, helping to drive the Co.'s targeted connection systems revenue mix from $450M today to ~$950M by 2025 (incl. $200M-$300M inorganic sales funnel), implying a +12% core CAGR."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Azimut Holdings SpA (AZM:IM) (AZIHY) PT Raised to EUR23.80 at Goldman Sachs
- Takeuchi Mfg. Co., Ltd (6432:JP) (TKUGF) PT Raised to JPY3,400 at CLSA
- Ashmore Group (ASHM:LN) (AJMPF) PT Lowered to GBP4.60 at Goldman Sachs
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!