Lear price target raised to $188 from $182 at Benchmark

Benchmark analyst Michael Ward raised the firm’s price target on Lear to $188 from $182 and keeps a Buy rating on the shares. Pending union contract negotiations in North America and the headlines that come with the talks are likely to create a headwind for the auto sector in the near-term, but at “some point, the contracts will be resolved, and we believe the market will turn the focus to industry fundamentals,” says the firm, which argues that Lear is “positioned to be among the winners” as it benefits from new business wins, an improved cost structure, and a debt profile the firm calls “among the best in the industry.”