Lear Corp: Jefferies downgrades recommendation

(CercleFinance.com) - Jefferies downgrades its recommendation on Lear Corp from 'buy' to 'hold', taking its target price from 200 to 170 dollars, in the wake of a downgrade in estimates for American automotive suppliers (-15% on 2022 EPS).


The broker says that despite the fact it sees signs that the shortage of electronics has reached rock bottom, assembly stoppages (Covid) suggest disruptions are ongoing, yet still significant, and an overall slower recovery in the automotive sector.

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