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Posted AT 12:02 PM EST on 28/05/08

Merrill downbeat on auto sector

Globe and Mail Update

The auto sector suffered its second blow in as many days from Wall Street analysts as Merrill Lynch lowered its calls on several names in the sector Wednesday. According to ratings data tracked by Bloomberg, Merrill auto sector analyst John Murphy downgraded parts makers Magna International Inc., Lear Corp., TRW Automotive Holdings Corp. and Cooper Tire & Rubber Co. to “sell” from “neutral.

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