Lear Corp.  (LEA - Get Report) shares were up nearly 3% to $140.48 early Thursday afternoon after the company's stock was upgraded to "outperform" from "neutral" by analysts at Baird who also raised the company's price target to $161 from $160.

The firm identified strengthening fundamentals, valuation and positive reversals as some of the reasons for its bullish outlook for the supplier to the global automotive industry. 

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