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Magna price target raised to $48 from $47 at JPMorgan

JPMorgan analyst Ryan Brinkman raised the firm’s price target on Magna (MGA) to $48 from $47 and keeps an Overweight rating on the shares. The company’s stronger than expected EBIT in Q2 shows the benefits of its cost savings program, the analyst tells investors in a research note. The firm upped estimates post the report.

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