- Argus boosts its rating on Lear (LEA +0.6%) to Buy from Hold even with shares sitting right at their 52-week high.
- "We view Lear as a well-run company with a strong track record in its industry, and expect its products and services to be in high demand on the other side of the pandemic. Lear had faced challenges from COVID-19 evident by the large loss in 2Q; the company has subsequently returned to profit, exceeding estimates. On a technical basis, the shares had been in a long-term bearish pattern of lower highs and lower lows since June 2018. Since April, the shares have reversed their pattern to higher lows and higher lows."
- The firm starts off coverage on Lear with a target price of $175 vs. the average Wall Street PT of $152.17.