Goldman Sachs Reiterates Buy Rating On Lear Corp

According to Goldman Sachs, Lear Corp. LEA Buy rating is reiterated. Goldman Sachs said that, post 1Q11 results, it is adjusting its Y2011/FY2012/FY2013 estimates to $5.28/$7.07/$7.47 from $4.95/$6.26/$6.46. “Our new estimates reflect (1) the flow-through of much stronger 1Q results, (2) a higher revenue forecast primarily driven by stronger FX, (3) higher operating income helped by lower SG&A than we had previously modeled, and (4) higher equity income. Accordingly, our six month price target rises to $65 from $63 previously, implying 27% upside.” Lear Corp.closed yesterday at $51.14.