Lear price target lowered to $127 from $135 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Lear (LEA) to $127 from $135 and keeps a Buy rating on the shares. The company’s Q3 results topped estimates, though consensus had been lowered after its September pre-announcement that 2024 was tracking more negatively than its prior guidance, the analyst tells investors in a research note. The implied Q4 revenue and core operating income guidance of $5.46B and $227M is also below the Street, though Lear attributed the lower 2024 outlook to incrementally weaker customer production plans, especially in Europe, the firm added.