Magna price target raised to $47 from $45 at RBC Capital

RBC Capital raised the firm’s price target on Magna (MGA) to $47 from $45 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q3 results for global automakers. FY26 consensus numbers are likely too low, especially when factoring in a lower assumed net tariff impact in FY26 relative to FY25, the analyst tells investors in a research note, adding that the firm sees further upside as long-term mitigation efforts, such as onshoring, begin to materialize.