Accumulate Lear (NYSE:LEA) on Weakness says Soleil

Citing awarded business, increased industry build assumptions and company comments, increased their PT on Lear (NYSE:LEA), but recommend buying the company on weakness as the supplier segment looks volatile.

Soleil noted, "We have increased our earnings assumptions for Lear for 2010, 2011 and 2012 to reflect higher industry build assumptions in North America and in Europe, an increase in awarded business, and recent company comments...We have increased our target price as the market increasingly looks to 2012 earnings, but believe the supplier group will remain volatile, presenting better buying opportunities over the coming months and look to accumulate the stock on weakness."

Soleil Securities reiterates a "Hold" on Lear, which closed Thursday at $106.74, gaining $0.56, or 0.53 percent. Soleil raised their price target on Lear from $96 to $109.