MG..target 75 US
...
price target to $75 (U.S.) from $57.
Deutsche Bank upgraded Magna Int'l (NYSE: MGA) from Hold to Buy with a price target of $75.00. Analyst Rod Lache thinks the company's potential is underestimated.
"MGA has achieved an impressive turnaround in recent years, and has established credibility with regard to operational and financial management. But despite above average performance, the company is still viewed as an “average” supplier. We’ve re-assessed Magna’s prospects, and concluded that the Street is likely underestimating the co’s potential. We see potential for double digit returns even prior to multiple expansion (MGA trades at ~10x forward earnings), and we’re upgrading to Buy on valuation," said Lache.