Lear upgraded to Buy from Neutral at UBS UBS analyst Colin Langan upgraded Lear Corporation to Buy citing the recent pullback in shares. The company's "strong" free cash flow limits the downside risk of shares, Langan tells investors in a research note. The stock is down 11% from the June peak despite Lear's raised margin outlook for 2015, the analyst points out. He views selloff in the U.S. Auto Parts sector as buying opportunity for investors and also upgraded BorgWarner (BWA) this morning to Buy. Langan raised his price target for Lear shares to $124 from $115.
BorgWarner's acquisition of Remy granted early termination of waiting period Remy International (REMY) announced that the U.S. Federal Trade Commission has granted early termination of the waiting period under the HSR Act with respect to the pending acquisition of Remy by BorgWarner (BWA). The closing of the acquisition remains subject to other customary closing conditions.