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Stock impact report

This TSX top gainer's 25% leap prompts TD analyst to predict 'upward financial revisions' this year [Yahoo! Finance Canada]

Magna International, Inc. (MGA) 
Last magna international, inc. earnings: 2/21 05:00 am Check Earnings Report
US:NYSE Investor Relations: magna.com/investors
Stock of the week: Magna International Inc. Magna International Inc. (MG:TSX) was the top gainer on the S&P/TSX composite index with shares rising 24.5 per cent after the auto parts manufacturer reported surprise earnings that beat expectations on Friday. This prompted TD Cowen analyst Brian Morrison to hike his price target for the Aurora, Ont.-based company to $102.03 from $79.30. Shares of Magna closed Friday at $93.52. Morrison attributed the earnings beat to operating margins that topped forecasts. Magna also said it benefited from the recovery of tariffs and beneficial currency rates. The company is forecasting 2026 performance above the current consensus outlook, including quarterly free cash flow, with Morrison predicting Magna will undertake “material” share buybacks this year. “This should support upward financial revisions,” he said. The average 12-month price target for Magna based on the estimates of 16 analysts is $77.11, according to Bloomberg. Keeping score TD's Show less Read more
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