Downgrade Alert for Lear (LEA)
Lear (NYSE:LEA) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $114.09 on volume of 1.2 million shares, above average daily volume of 862,000.
In the past 52 weeks, Lear share prices have been bracketed by a low of $89.71 and a high of $127.00 and closed yesterday at $114.09, 27% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.
Lear Corporation provides seating systems, electrical distribution systems and electronic products. Lear also offers its customers design, engineering, validation, and project management support.
Lear (NYSE:LEA) has potential upside of 19.3% based on a current price of $114.09 and analysts' consensus price target of $136.08. The stock should find initial support at its 200-day moving average (MA) of $111.06 and further support at its 50-day MA of $109.72.
SmarTrend is monitoring the recent change of momentum in Lear. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Lear in search of a potential trend change.
Keywords: analyst upgrades/downgrades Lear