JPMorgan lowered the firm’s price target on Magna to $77 from $80 and keeps an Overweight rating on the shares. The analyst expects every auto supplier to meet or exceed expectations in Q4 and for none to miss. The biggest catalyst is sharply higher global light vehicle production during the quarter, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on MGA:
- Magna Announces Date for Q4 & Year End 2023 Results and 2024 Outlook Conference Call
- Magna Unveils Next Generation eDrive at CES 2024
- Magna Advances Road Safety With Impaired Driving Prevention Technology
- Magna downgraded to Neutral from Buy at Goldman Sachs
- Amgen upgraded, PepsiCo downgraded: Wall Street’s top analyst calls