Lear price target lowered to $145 from $150 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Lear to $145 from $150 and keeps an Overweight rating on the shares. For most of the past two decades, China was a source of incremental demand and marginal profitability, supporting results for automaker OEMs and suppliers alike, but China has now flipped to a source of incremental supply and marginal loss, and is now becoming a force in the rest of the world, the analyst tells investors while downgrading the firm’s U.S. auto industry view to In-Line from Attractive.