Magna price target raised to $58 from $52 at Barclays

Barclays analyst Dan Levy raised the firm’s price target on Magna (MGA) to $58 from $52 and keeps an Equal Weight rating on the shares. The firm adjusted targets in the autos and mobility group as part of a Q4 preview. Barclays continue to prefer the car markers, saying they are benefiting from “healthy” production rates and reduced electric vehicle losses.