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Magna International (NYSE: MGA) was the recipient of a ratings changes during the seven days:

  • Magna International had its price target raised by analysts at Canaccord Genuity from $102.00 to $108.00.
  • Magna International had its price target raised by analysts at JPMorgan Chase & Co. from $116.00 to $120.00. They now have a “neutral” rating on the stock.
  • Magna International had its “hold” rating reaffirmed by analysts at Deutsche Bank. They now have a $102.00 price target on the stock, up previously from $98.00.
  • Magna International had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $117.00 price target on the stock. Zacks‘ analyst wrote, “Magna International posted adjusted earnings per share of $2.37 for the second quarter of 2014, which surpassed the Zacks Consensus Estimate of $2.22. Revenues went up 5.6% to $9.46 billion, beating the Zacks Consensus Estimate of $9.37 billion. For 2014, Magna International increased the revenues guidance to $35.6-$37.3 billion. The stringent regulatory requirements are expected to boost sales in the future. The company maintains a strong cash position, which facilitates regular capital deployment. However, dependence on few customers and uncertainty in the European automotive industry are some headwinds. Thus we are maintaining a Neutral recommendation on Magna International.”
  • Magna International had its price target raised by analysts at CIBC from $115.00 to $120.00. They now have a “sector outperformer” rating on the stock.
  • Magna International had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $130.00 price target on the stock, up previously from $115.00.
  • Magna International had its “neutral” rating reaffirmed by analysts at Citigroup Inc.. They now have a $120.00 price target on the stock, up previously from $107.00.
  • Magna International is now covered by analysts at Credit Suisse. They set an “outperform” rating and a $128.00 price target on the stock.

Shares of Magna International Inc. (NYSE:MGA) traded up 0.35% during mid-day trading on Thursday, hitting $112.01. 81,939 shares of the company’s stock traded hands. Magna International Inc. has a one year low of $75.45 and a one year high of $112.85. The stock’s 50-day moving average is $109.4 and its 200-day moving average is $99.87. The company has a market cap of $23.780 billion and a P/E ratio of 14.92.

Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.

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