Magna price target lowered to $32 from $51 at RBC Capital

RBC Capital analyst Tom Narayan lowered the firm’s price target on Magna (MGA) to $32 from $51 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q1 results for automakers. The quarter could benefit from pre-buy in March ahead of tariff launch, the analyst tells investors in a research note. While the firm doesn’t expect much commentary on tariff impacts at Q1 earnings, guidance in the sector could be pulled or lowered, even though consensus is largely already at the lower end of target ranges, RBC adds. Given macro uncertainty, RBC is favoring the OEMs over suppliers, though investors making a no tariff call could potentially make large gains owning the entire group, the firm stated.