Analyst Rating Update on Magna International (MGA)

Magna International (MGA) : 12 analysts are covering Magna International (MGA) and their average rating on the stock is 1.58, which is read as a Buy. 7 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Magna International (MGA) also receives 3 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Magna International (MGA) : Currently there are 8 street experts covering Magna International (MGA) stock. The most bullish and bearish price target for the stock is $63 and $44 respectively for the short term. The average price target of all the analysts comes to $56.46. The estimated standard deviation from the target is $6.22.

For the current week, the company shares have a recommendation consensus of Buy.


Magna International (NYSE:MGA): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $37.38 and $37.07 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.07. The buying momentum continued till the end and the stock did not give up its gains. It closed at $37.98, notching a gain of 1.69% for the day. The total traded volume was 1,087,723 . The stock had closed at $37.35 on the previous day.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.