Citi ups Lear price target, adds ‘upside 90-day catalyst watch’

Citi raised the firm’s price target on Lear (LEA) to $136 from $123 and keeps a Buy rating on the shares. Citi also added an “upside 90-day catalyst watch” Lear, citing its belief that auto suppliers could benefit the most from recent industry trends. Tariff-related uncertainty created an overhang during Q1 earnings season for the auto sector, leading most to pull guidance and offer cautious comments for the rest of the year, but since then adjustments have been made, demand has been better than expected, and production estimates have been moving higher in all key regions, notes the firm, which sees higher odds for a positive Q2 earnings season and upward revisions for the supplier group.