TD Securities analyst Brian Morrison lowered the firm’s price target on Magna to $69 from $73 and keeps a Buy rating on the shares. The company reported Q4 results that were below expectations and initiated a disappointing 2024 operating margin outlook, the analyst tells investors in a research note. The firm says that despite a slowing adoption rate for electric vehicles delaying management’s inflection point for profitability to 2026, its 2025 EBITDA forecast is little changed.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MGA:
