Lear price target lowered to $135 from $150 at BofA

BofA analyst John Murphy lowered the firm’s price target on Lear (LEA) to $135 from $150 and keeps a Buy rating on the shares. The firm lowered its North American auto production estimate to 16.1M from 16.7M to reflect plant downtime and a material increase in Chinese imports to Mexico. Auto suppliers’ outlooks point to “another tough year ahead since production volumes are expected to decline,” the analyst added.