Lear Corporation's Stock Climbs Over 2% Following TD Cowen's Upgrade to Buy

Deep News05-26

Shares of automotive parts supplier Lear Corporation rose more than 2% on Tuesday after TD Cowen upgraded the stock from Hold to Buy and raised its price target from $138 to $165. TD Cowen believes Lear is well-positioned in North American automotive production, which the investment bank expects to outperform market forecasts.

Lear is one of the world's largest suppliers of automotive seating and also manufactures key components such as electrical distribution systems. Its customer base includes major automakers like General Motors, Ford, BMW, and Mercedes-Benz. The company's first-quarter earnings report showed strong performance: revenue reached $5.8 billion, a 5% year-over-year increase; net income was $172 million, surging 114% year-over-year; and adjusted earnings per share stood at $3.87, the highest level since 2019. The company also maintained its full-year 2026 net sales guidance of $23.2 billion to $24 billion.

Notably, Lear is accelerating its focus on the Chinese market. In 2025, 44% of its sales revenue in China came from domestic brand customers, a figure expected to exceed 50% in 2026. Key clients now include BYD, Seres, Xiaomi, and Leapmotor. Additionally, Lear has a strong presence in seat electronics, with its thermal comfort product portfolio targeting approximately $1 billion in long-term revenue.

Prior to this rating upgrade, several institutions, including JPMorgan Chase and Barclays, had recently raised their price targets for Lear. At the time of reporting, Lear's stock was trading around $142.99, reflecting a significant year-to-date gain.

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