Shares of auto parts makers rose Tuesday as the broader market advanced and an analyst suggested that another strong quarter was coming for the sector.

 

Citi Investment Research analyst Itay Michaeli said in a note to investors that most auto parts makers should have strong second-quarter results because of recovering global auto production and improved cost containment.

 

He suggested purchasing shares of Magna International Inc. and Lear Corp. ahead of their quarterly reports.

 

"We anticipate companies will affirm prior 2010 financial outlooks and perhaps even add an upward bias," Michaeli wrote.

 

Shares of Magna rose $2.78, or 4.1 percent, to $71.02 in afternoon trading, while Arvin Meritor Inc. added 98 cents, or 7.1 percent, to $14.85. Lear shares rose $1.62, or 2.4 percent to $68.60, while BorgWarner Inc. increased $2.26, or 5.7 percent to $42.12.