Lear price target raised to $200 from $188 at Benchmark

Benchmark analyst Michael Ward raised the firm’s price target on Lear to $200 from $188 and keeps a Buy rating on the shares. The firm named Lear a top pick for 2024, and believes increasing and more consistent industry production will lead to better-than-expected earnings performance at the suppliers in 2024 and 2025, the analyst tells investors in a research note. Lear’s balance sheet is among the best in the Supplier Comp Group, and cash generation should accelerate with higher and more consistent production, providing the flexibility for the Board for enhanced shareholder returns, the firm argues.