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Evercore ISI Sticks to Its Hold Rating for Magna International (MGA)

Tipranks - Tipranks - Sat May 2, 9:48AM CDT

Evercore ISI analyst Chris McNally maintained a Hold rating on Magna International today and set a price target of $66.00.

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According to TipRanks, McNally is a 3-star analyst with an average return of 2.1% and a 50.82% success rate. McNally covers the Consumer Cyclical sector, focusing on stocks such as Magna International, BorgWarner, and Aptiv.

Magna International has an analyst consensus of Moderate Buy, with a price target consensus of $62.17.

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Based on Magna International’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$11.01 billion and a GAAP net loss of C$1.02 million. In comparison, last year the company earned a revenue of C$10.63 billion and had a net profit of C$203 million

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGA in relation to earlier this year.

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