Analyst Price Target Update on Magna International (NYSE:MGA)

Magna International (NYSE:MGA) shares are expected to touch $59.95 in the short term. This short term price target has been shared by 7 analysts. However, the standard deviation of short term price estimate has been valued at 3.15. The target price could hit $63 on the higher end and $55 on the lower end.

Many analysts have stated their opinion on the company shares. Morgan Stanley maintains their rating on the shares of Magna International (NYSE:MGA). The current rating of the shares is Overweight. Equity Analysts at the Firm lowers the price target to $60 per share from $71 per share. The rating by the firm was issued on March 17, 2016. For the current week, the company shares have a recommendation consensus of Buy.

Magna International (NYSE:MGA) stock ended Monday session in the red zone in a volatile trading. The stock closed down 1.03 points or 2.55% at $39.34 with 1,523,485 shares getting traded. Post opening the session at $40.1, the shares hit an intraday low of $39.33 and an intraday high of $40.16 and the price was in this range throughout the day. The company has a market cap of $15,606 million and the number of outstanding shares have been calculated to be 396,696,160 shares. The 52-week high of Magna International (NYSE:MGA) is $58.34 and the 52-week low is $30.41.

Magna International Inc. (Magna) is an automotive supplier with approximately 313 manufacturing operations and over 84 product development, engineering and sales centers in approximately 28 countries. Its product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as vehicle engineering and contract manufacturing. Its customers include General Motors, Fiat-Chrysler, Ford, BMW, Daimler and Volkswagen. Its offers programs, which include Ford Transit; MINI Countryman; Ford F-Series and F-Series Super Duty; QOROS 3; Ford Mustang; BMW X6; Mercedes-Benz M-Class; BMW X4 and Porsche Panamera. The Company operates in North America, Europe and Asia.

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