Lear price target raised to $139 from $134 at Wells Fargo

Wells Fargo raised the firm’s price target on Lear to $139 from $134 and keeps an Equal Weight rating on the shares. The firm notes Lear missed Q1 adjusted EBIT by about 1% and held full year guidance, but left little excitement for FY24. The upsized $1.5B buyback authorization was a tangible positive, says Wells.