Lear Posting Notable Gain On Upgrade By Goldman Sachs

(RTTNews) - After moving notably higher early in the session, shares of Lear Corp. (LEA) have pulled back off their best levels of the day but remain firmly positive in late-day trading on Thursday. Lear is currently up by 2.6 percent after ending the previous session at its lowest closing level in well over a year.

The early rally by Lear came after Goldman Sachs upgraded its rating on the automotive seating and electrical systems supplier to Buy from Neutral. Goldman Sachs attributed the upgrade to its view that Lear will outperform the turbulent auto supplier sector.