UBS analyst Joseph Spak maintains $Magna International (MGA.US)$ with a hold rating, and adjusts the target price from $44 to $45.
According to TipRanks data, the analyst has a success rate of 49.6% and a total average return of -7.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Magna International (MGA.US)$'s main analysts recently are as follows:
The sentiment surrounding Magna was previously somewhat negative leading into the quarter. The company's performance, which met expectations, along with the announcement of the buyback authorization, mitigated some of the pessimistic views. Analysts are waiting for greater clarity before forming a definitive stance, but acknowledge that these initiatives are moving in a positive direction.
Magna experienced a rise of approximately 6% following a Q3 EBIT beat. Despite having leverage above the targeted range, the company announced significant buybacks. The full-year EBIT guidance was reduced by about 4%, yet it still suggests an increase in the upcoming quarter. The shift towards core focus is seen positively, though achieving the long-term targets presents a challenge.
Note:
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