Wells Fargo Sticks to Their Hold Rating for Magna International (MGA)
Wells Fargo analyst Colin Langan maintained a Hold rating on Magna International today and set a price target of $50.00.
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Langan covers the Consumer Cyclical sector, focusing on stocks such as Aptiv, Lear, and Tesla. According to TipRanks, Langan has an average return of -7.5% and a 46.30% success rate on recommended stocks.
In addition to Wells Fargo, Magna International also received a Hold from Morgan Stanley’s Andrew Percoco in a report issued yesterday. However, on December 7, TR | OpenAI – 4o reiterated a Buy rating on Magna International (NYSE: MGA).
Based on Magna International’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$10.46 billion and a net profit of C$305 million. In comparison, last year the company earned a revenue of C$10.28 billion and had a net profit of C$484 million
Based on the recent corporate insider activity of 14 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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