After spending much of the past six months at a less-than-impressive two-star rank, Lear (NYSE: LEA) is attracting more top-performing members of our 165,000-strong Motley Fool CAPS community, enough in fact to bump its rating to three stars. At this point, 28 members have weighed in on the newly reorganized auto seat maker, with all 14 All-Stars in the bunch giving a bullish rating to the company.

After emerging from bankruptcy protection last year with a leaner balance sheet, Wall Street analysts and CAPS members have begun to take a fresh look at the stock. Coupled with a recovering auto market and an improved outlook from Lear, investors like the company's chances now that the heavy debt burden has been eased.

Lear counts every major auto manufacturer as a customer of its seats and electrical components, and the company got off to a good start for the year, with a swing back to a first-quarter profit from a year-ago loss and a 36% jump in revenue. With vehicle production volumes increasing in North America as well as multiple emerging markets, demand for Lear's products has been strong.

Lear shares a similar view of the improving market as competitor Johnson Controls (NYSE: JCI), as both companies raised their full-year outlooks. And despite battery maker Exide Technologies' (Nasdaq: XIDE) reporting lower volumes in its transportation segments in its most recent quarter, it, too, expects greater demand for its products this year.

Two of Lear's largest customers, GM and Ford (NYSE: F), topped analysts' U.S. sales expectations in May with renewed domestic demand for trucks and SUVs. Other automakers posted strong sales for the month too, such as Honda Motor's (NYSE: HMC) 19.1% jump. Even the recall-plagued Toyota (NYSE: TM) has put its foot on the gas again and eked out a 6.7% sales increase.

While the recovery of the U.S. auto market is good for Lear, the company sees even bigger potential outside of North America, where it generated 70% of its 2009 sales. India's Tata Motors (NYSE: TTM) reported a 50% jump in global vehicle sales and both Ford and GM are pushing further into the growing Chinese market, which could provide more opportunity for Lear.

Do you think Lear deserves its raised status? Add your thoughts in the comments box below on this page, or head over to CAPS to rate the company.

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Fool contributor Dave Mock is contemplating upgrading his car seat with one of those beaded massage covers. He owns no shares of companies mentioned here. Ford Motor is a Stock Advisor selection. The Fool's disclosure policy is getting close to the four-minute mile, but every second gets harder and harder now.