The firm said it lowered its rating on the auto parts supplier based on a valuation call.
However, Deutsche Bank raised its price target on Lear to $100 from $103, following the company's strong 2014 second quarter financial results.
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Earnings per share increased 31% and revenue was up 11% over the 2013 second quarter. Shares of Lear Corp. are lower -0.91% to $98.10 in pre-market trading today. Separately, TheStreet Ratings team rates LEAR CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: "We rate LEAR CORP (LEA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, increase in net income, attractive valuation levels and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
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