JPMorgan Chase & Co. Increases Lear Price Target to $108.00 (LEA)
JPMorgan Chase & Co. boosted their price objective on shares of Lear (NYSE:LEA) from $105.00 to $108.00 in a research note issued on Monday. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 9.09% from the stock’s previous close.
Lear (NYSE:LEA) traded down 1.11% on Monday, hitting $97.90. The stock had a trading volume of 238,729 shares. Lear has a 52 week low of $66.98 and a 52 week high of $100.58. The stock has a 50-day moving average of $91.74 and a 200-day moving average of $84.4. The company has a market cap of $7.854 billion and a P/E ratio of 17.87. Lear also was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 536,072 shares, a decline of 43.2% from the June 13th total of 944,535 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 935,828 shares, the days-to-cover ratio is presently 0.6 days.
Lear (NYSE:LEA) last released its earnings data on Friday, July 25th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.16. The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts expect that Lear will post $7.77 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on LEA. Analysts at Deutsche Bank downgraded shares of Lear from a “buy” rating to a “hold” rating in a research note on Monday. They now have a $103.00 price target on the stock, up previously from $100.00. Separately, analysts at Goldman Sachs cut their price target on shares of Lear from $108.00 to $107.00 in a research note on Monday, July 14th. Finally, analysts at Barclays upgraded shares of Lear from an “equal weight” rating to an “overweight” rating in a research note on Monday, July 14th. They now have a $113.00 price target on the stock, up previously from $93.00. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Lear currently has an average rating of “Buy” and an average target price of $99.82.
Lear Corporation is a tier 1 supplier to the global automotive industry. The Company supplies its products to automotive manufacturers with automotive seat systems and related components, as well as electrical distribution systems and related components.
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