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Lear Corp. (LEA) gets rating Upgrade from Morgan Stanley

Lear Corp.’s recently made public that its Director MALLETT CONRAD L JR unloaded Company’s shares for reported $0.16 million on May 28 ’24. In the deal valued at $124.55 per share,1,278 shares were sold. As a result of this transaction, MALLETT CONRAD L JR now holds 0 shares worth roughly $0.0.

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Then, SMITH GREG C sold 2,392 shares, generating $296,273 in total proceeds. Upon selling the shares at $123.86, the Director now owns 0 shares.

Before that, Cardew Jason M sold 2,750 shares. Lear Corp. shares valued at $387,228 were divested by the Sr. VP & CFO at a price of $140.81 per share. As a result of the transaction, Cardew Jason M now holds 17,506 shares, worth roughly $2.16 million.

Morgan Stanley upgraded its Lear Corp. [LEA] rating to an Overweight from a an Equal-weight in a research note published on May 10, 2024; the price target was increased to $160 from $150. A number of analysts have revised their coverage, including Barclays’s analysts, who increased its forecast for the stock in mid October from “an Equal weight” to “an Overweight”. UBS began covering LEA with “Neutral” recommendation on September 13, 2023. Exane BNP Paribas revised its rating on June 01, 2023. It rated LEA as “an Outperform” which previously was an “a Neutral”.

Price Performance Review of LEA

On Friday, Lear Corp. [NYSE:LEA] saw its stock jump 0.78% to $123.34. Over the last five days, the stock has lost -1.60%. Lear Corp. shares have fallen nearly -12.65% since the year began. Nevertheless, the stocks have fallen -9.81% over the past one year. While a 52-week high of $157.90 was reached on 03/25/24, a 52-week low of $120.40 was recorded on 05/29/24. SMA at 50 days reached $131.49, while 200 days put it at $134.90. A total of 0.64 million shares were traded, compared to the trading of 0.54 million shares in the previous session.

Levels Of Support And Resistance For LEA Stock

The 24-hour chart illustrates a support level at 121.81, which if violated will result in even more drops to 120.28. On the upside, there is a resistance level at 124.14. A further resistance level may holdings at 124.94. The Relative Strength Index (RSI) on the 14-day chart is 39.56, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.91, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.43%. Stochastics %K at 24.58% indicates the stock is a holding.

The most recent change occurred on February 15, 2023 when Barclays began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $155 price target.

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