Lear (LEA) Whacked On Fears Common Stock Worth Little
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Shares of Lear Corp. (NYSE: LEA) were taken apart today on bankruptcy concerns after Barclays downgraded the stock to Underweight. Shares fell 28.5% today to $1.38.
In its downgrade of Lear, Barclays said in a restructuring, in or out of bankruptcy, there will be little value left for common shareholders. The firm set a dismal $0.25 price target on the stock, which implied 87% downside to Friday's close of $1.93.
In its downgrade of Lear, Barclays said in a restructuring, in or out of bankruptcy, there will be little value left for common shareholders. The firm set a dismal $0.25 price target on the stock, which implied 87% downside to Friday's close of $1.93.
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