Research analysts at Morgan Stanley lifted their target price on shares of Lear Corp. (NYSE:LEA) from $60.00 to $66.00 in a report released on Tuesday, AnalystRatings.Net reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 3.78% from the company’s current price.
LEA has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Lear Corp. from $75.00 to $78.00 in a research note to investors on Tuesday. Separately, analysts at Deutsche Bank raised their price target on shares of Lear Corp. from $70.00 to $75.00 in a research note to investors on Tuesday. Finally, analysts at JPMorgan Cazenove raised their price target on shares of Lear Corp. from $75.00 to $80.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock.
Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $70.76.
Shares of Lear Corp. (NYSE:LEA) traded up 1.33% during mid-day trading on Tuesday, hitting $68.59. Lear Corp. has a 52 week low of $35.45 and a 52 week high of $68.27. The stock’s 50-day moving average is currently $62.35. The company has a market cap of $5.871 billion and a P/E ratio of 5.12.
Lear Corp. (NYSE:LEA) last announced its earnings results on Friday, July 26th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.28. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the previous year, the company posted $1.35 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts predict that Lear Corp. will post $5.54 earnings per share for the current fiscal year.
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.