Lear close to buying Eagle Ottawa for over $800M, WSJ reports Lear Corp is close to buying premium automotive leather supplier Eagle Ottawa for north of $800M, the Wall Street Journal reports, citing sources. A deal could be announced this week or next, the sources add. Reference Link
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.