JPMorgan analyst Ryan Brinkman lowered the firm’s price target on Lear (LEA) to $160 from $162 and keeps an Overweight rating on the shares. The firm previewed the auto parts supplier earnings by lowering estimates for Q3 EBITDA and earnings by an average 4% and 6%, respectively. The softer quarter it expects for suppliers is a result not of lower global light vehicle production but of persistent mix headwinds as production in Q3 tracked softer in regions of the world to which many U.S.-based suppliers are disproportionately levered.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LEA:
- Lear price target lowered to $140 from $150 at Barclays
- Lear price target lowered to $170 from $180 at BofA
- Lear price target lowered to $135 from $144 at Goldman Sachs
- 3 Best Stocks to Buy Now, 9/26/2024, According to Top Analysts
- Morgan Stanley says sell GM in auto ratings shakeup on China ‘butterfly effect’