tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Magna price target raised to $45 from $38 at Wells Fargo

Wells Fargo raised the firm’s price target on Magna (MGA) to $45 from $38 and keeps an Equal Weight rating on the shares. The company reported a Q2 beat and surprised investors by upping its fiscal year adjusted EBIT outlook, the analyst tells investors in a research note. Wells believes most of the increase is likely recoveries and says “lots has to go right” to hit the target.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1