BofA reinstated coverage of Magna (MGA) with a Buy rating and $80 price target The firm, which is reinstating coverage of the North American automotive and auto-tech industry, thinks the industry will outperform expectations this year as automakers adjust to a new regulatory environment that favors their higher margin accretive internal combustion engine vehicles.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MGA:
- Magna International Files 2025 Results as EV and ADAS Wins Offset Slower Auto Production
- Magna International Sets May 4, 2026 Date for Annual Shareholders’ Meeting
- Magna price target raised to $65 from $54 at Morgan Stanley
- Magna upgraded to Outperformer from Neutral at CIBC
- Magna price target raised to $69 from $57 at Scotiabank