Wolfe Research Sticks to Their Hold Rating for Magna International (MGA)
In a report released yesterday, from Wolfe Research maintained a Hold rating on Magna International. The company’s shares closed yesterday at C$78.33.
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Magna International has an analyst consensus of Moderate Buy, with a price target consensus of $52.80, representing a -32.59% downside. In a report released yesterday, Wells Fargo also maintained a Hold rating on the stock with a $58.00 price target.
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
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