CIBC Capital Markets raised its price target on Magna International Inc. (MG.TO, MGA) to US$46 from US$44.
Analyst Anshul Aggarwal maintained a Neutral rating on shares of the Canadian auto parts manufacturer.
"This quarter was a clear step forward for MGA," Aggarwal said in a note to clients. "The company exceeded expectations, raised its full-year guidance, and made tangible progress in lowering its estimated annualized tariff exposure."
"While these developments reflect solid execution and improved visibility, we believe further progress is needed to fully support the path toward MGA's 2026 targets," the analyst said.
"Additionally, ongoing macroeconomic and geopolitical uncertainty continues to present risks to industry volumes."
(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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