Morgan Stanley Increases Lear Price Target to $98.00 (LEA)
Equities researchers at Morgan Stanley increased their target price on shares of Lear (NYSE:LEA) from $90.00 to $98.00 in a research report issued on Monday. Morgan Stanley’s price target points to a potential upside of 2.70% from the company’s current price.
Shares of Lear (NYSE:LEA) traded up 0.67% on Monday, hitting $96.06. The stock had a trading volume of 107,149 shares. Lear has a 1-year low of $68.26 and a 1-year high of $100.58. The stock’s 50-day moving average is $93.20 and its 200-day moving average is $85.38. The company has a market cap of $7.706 billion and a price-to-earnings ratio of 17.23.
Lear (NYSE:LEA) last issued its quarterly earnings data on Friday, July 25th. The company reported $2.12 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.62 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts predict that Lear will post $7.95 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Lear in a research note on Monday, July 28th. They now have a $117.00 price target on the stock, up previously from $101.00. Separately, analysts at Buckingham Research raised their price target on shares of Lear from $105.00 to $120.00 in a research note on Monday, July 28th. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Lear from $105.00 to $108.00 in a research note on Monday, July 28th. They now have a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Lear currently has a consensus rating of “Buy” and a consensus price target of $104.64.
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.
Receive News & Ratings for Lear Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear Co and related companies with Analyst Ratings Network's FREE daily email newsletter.