Magna price target raised to $52 from $47 at Evercore ISI

Evercore ISI raised the firm’s price target on Magna (MGA) to $52 from $47 and keeps an In Line rating on the shares. The firm, which adjusts its auto sector targets to 2027 methodologies, contends that the sector shows promise due to the “K-economy” and replacement demand. The firm sees 20%-plus upside for the auto sector in the next year, driven by a shift from “25 Fears” to “27 Outlooks,” the analyst added.