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Lear price target lowered to $109 from $116 at UBS

UBS lowered the firm’s price target on Lear (LEA) to $109 from $116 and keeps a Neutral rating on the shares. Lear is showing signs of underlying cost improvement, but volume and mix headwinds continue to drag down margins, the analyst tells investors in a research note. UBS sees Lear as having a more challenged growth story, making earnings more dependent on cost savings.

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