J.P. Morgan Expects Neutral Reaction On LEA Guidance

Lear Corporation (NYSE: LEA) provided formal 2011 guidance and updated backlog figures ahead of the Detroit Auto Show, J.P. Morgan reports.

“Specifically, LEA sees 2011 revenues rising to a range of $12.6-$13.0B (below consensus' $13.2B and in-line with JPMe $13.0B) and 2011 core operating earnings in the range of $700- 740MM (in-line with midpoint of consensus and ahead of JPMe $659MM),” J.P. Morgan writes.

“Overall, we expect a neutral reaction at first glance to this guidance although management's commentary on balance sheet usage at the Show may prove equally important for stock near-term.”

Lear Corporation closed Monday at $107.89.