In a report released today, Dan Levy from Barclays maintained a Hold rating on Magna International (MGA – Research Report), with a price target of $63.00. The company’s shares closed last Friday at $54.94.
Levy covers the Consumer Cyclical sector, focusing on stocks such as Tesla, General Motors, and Rivian Automotive. According to TipRanks, Levy has an average return of 2.4% and a 45.24% success rate on recommended stocks.
In addition to Barclays, Magna International also received a Hold from Raymond James’s Michael Glen in a report issued on February 12. However, on the same day, J.P. Morgan maintained a Buy rating on Magna International (NYSE: MGA).
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The company has a one-year high of $64.20 and a one-year low of $46.33. Currently, Magna International has an average volume of 1.06M.
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Magna International (MGA) Company Description:
Magna International, Inc. is a mobility technology company, which supplies to the automotive industry. It operates through the following segments: Body Exteriors and Structures; Power and Vision; Seating Systems; and Complete Vehicles. The Body Exteriors and Structures segment includes body and chassis systems, exterior systems and roof systems operations. The Power and Vision segment comprises of global powertrain systems, electronics systems, mirrors and lighting and mechatronics operations. The Seating Systems segment deals with global seating systems operations. The Complete Vehicles segment focuses on vehicle engineering and manufacturing operations. The company was founded by Frank Stronach in 1957 and is headquartered in Aurora, Canada.
Read More on MGA:
- Magna’s normal course issuer bid accepted by Toronto Stock Exchange
- TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
- Magna price target lowered to $69 from $73 at TD Securities
- Magna price target lowered to $60 from $62 at Raymond James
- Magna price target lowered to $54 from $60 at Wells Fargo
