Magna price target raised to $51 from $45 at Wells Fargo

Wells Fargo analyst Colin Langan raised the firm’s price target on Magna (MGA) to $51 from $45 and keeps an Equal Weight rating on the shares following quarterly results. The firm notes Magna as up +5% after Q3 EBIT beat and management raised guide. Outlook implies EBIT increase quarter-over-quarter driven by recoveries, Wells adds, noting that previous 2026 guidance given earlier this year is likely stale.