Magna price target raised to $57 from $52 at Scotiabank

Scotiabank analyst Jonathan Goldman raised the firm’s price target on Magna (MGA) to $57 from $52 and keeps a Sector Perform rating on the shares. The firm notes that tariffs have increased vehicle production costs, which could soon start getting passed on to consumers or suppliers in 2026, the analyst tells investors. Scotiabank sees downside to production volumes, which the firm notes is the main determining factor of supplier earnings.