Lear Corp: Jefferies still a buyer - cuts target price
(CercleFinance.com) - Jefferies reinstates its "buy" recommendation on the Lear Corp share, having cut its corresponding target price from 156 dollars to 143 dollars, after it reduced its estimate for operating profit for 2020, reflecting the automotive equipment supplier's updated targets.
"3Q results demonstrate best-inclass Seating operations & ongoing E-Systems recovery, while cost savings position LEA for stronger incremental margin performance in '21," the broker said.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"3Q results demonstrate best-inclass Seating operations & ongoing E-Systems recovery, while cost savings position LEA for stronger incremental margin performance in '21," the broker said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.