Lear price target raised to $180 from $150 at Argus

Argus analyst Jim Corridore raised the firm’s price target on Lear to $180 from $150 and keeps a Buy rating on the shares after its Q2 earnings beat. The company also offers a substantial order backlog and a solid balance sheet, while the stock looks attractively valued at 13-times expected 2023 EPS estimate and at 9-times 2024 estimates compared to a five-year historical average multiple of 16-times, the analyst tells investors in a research note.