Magna price target raised to $66 from $62 at Citi

Citi analyst Itay Michaeli raised the firm’s price target on Magna to $66 from $62 and keeps a Neutral rating on the shares. The analyst updated several automaker and supplier models ahead of the Q4 reporting season. The overall stock setup is "improving slightly" as Street estimates continue to come down and with latest U.S. auto demand data points looking encouraging, Michaeli tells investors in a research note.