Wells Fargo analyst Colin Langan lowered the firm’s price target on Magna to $43 from $46 and keeps an Equal Weight rating on the shares. Magna fell about 6% after a Q2 miss, the firm said in a research note on Friday. Investors are likely skeptical of Magna’s ability to deliver the second half of the year guide given platform headwinds, Wells adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MGA: