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.
Lear acquires intellectual property from Autonet Mobile Lear announced that it has acquired intellectual property and technology from Autonet Mobile, a Santa Rosa, California based developer of software and devices for automotive applications. As part of the acquisition, Lear has hired key members of Autonet Mobile's software and product development team. Autonet Mobile will continue to operate and offer products to the automotive aftermarket through a technology license from Lear. Financial terms of the transaction were not disclosed.