Magna International Stock Rating Lowered by Canaccord Genuity (MG)
Magna International (TSE:MG) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a report issued on Monday, Stock Ratings Network.com reports.
Magna International (TSE:MG) traded down 1.40% on Monday, hitting $87.57. The stock had a trading volume of 594,561 shares. Magna International has a 1-year low of $42.58 and a 1-year high of $89.00. The stock has a 50-day moving average of $82.16 and a 200-day moving average of $69.41. The company has a price-to-earnings ratio of 13.44.
A number of other firms have also recently commented on MG. Analysts at CIBC cut their price target on shares of Magna International from C$92.00 to C$90.00 in a research note to investors on Friday, September 13th. They now have a “sector outperform” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Magna International from C$72.00 to C$74.00 in a research note to investors on Friday, September 6th. Finally, analysts at Deutsche Bank raised their price target on shares of Magna International from C$67.00 to C$72.00 in a research note to investors on Monday, August 12th. They now have a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of C$77.40.
Magna International Inc (TSE:MG) is a diversified global automotive supplier.
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