Barclays analyst Dan Levy lowered the firm’s price target on Magna to $63 from $65 and keeps an Equal Weight rating on the shares. The analyst sees opportunity for Q4 beats across the auto and mobility space amid reduced expectations. The firm prefers manufacturers over suppliers near term, but the “inverse beyond that.” Barclays favors General Motors (GM) into the print, Aptiv (APTV) and BorgWarner (BWA) after, and is cautious on Autoliv (ALV) and Rivian Automotive (RIVN).
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