- Morgan Stanley analyst Adam Jonas downgraded Lear Corp (NYSE:LEA) to Equal Weight from Overweight with a price target of $175, down from $200, implying a 10% upside.
- Jonas noted, along with its Q4 report, the company gave revenue, operating income, and EBITDA guidance that were all lower than consensus, which already missed his prior FY22 estimates. The analyst has brought down his own estimates on the back of Lear’s initial outlook.
- Jonas forecasts margins to be lower on BEV content for both Seating and E-Systems than his previous view.
- Related: Lear Q4 Earnings Top Estimates; Warns On Uncertainties Over Semiconductor Shortages, Inflationary Pressures
- Price Action: LEA shares are trading lower by 4.88% at $158.73 on the last check Monday.
