TD Securities raised its price target on Linamar Corp. (LNR.TO) to $78 from $66, and on Magna International Inc. (MG.TO, MGA) to US$50 from US$45 on Monday.
Analyst Brian Morrison maintained a Buy rating on both auto parts manufacturers.
"We have increased our target prices in advance of the Q2/25 results," Morrison said in a note to clients.
"We maintained a positive, albeit cautious sector stance, despite recent price appreciation," the analyst said.
"This view is based on demand resiliency to date, consensus at or below the low-end of guidance, cost efficiencies implemented, applied multiples below average, dealer inventories having declined, and a more constructive view on tariff risk."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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