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Wells Fargo Sticks to Its Hold Rating for Magna International (MGA)

Tipranks - Tipranks - Wed Feb 25, 8:04AM CST

In a report released on February 20, Colin Langan from Wells Fargo maintained a Hold rating on Magna International, with a price target of $69.00. The company’s shares closed yesterday at C$88.86.

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According to TipRanks, Langan is an analyst with an average return of -6.0% and a 47.25% success rate. Langan covers the Consumer Cyclical sector, focusing on stocks such as Magna International, Lear, and Aptiv.

Magna International has an analyst consensus of Hold, with a price target consensus of $65.18, representing a -26.65% downside. In a report released on February 18, TipRanks – OpenAI also downgraded the stock to a Hold with a C$101.00 price target.

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MGA market cap is currently C$25.81B and has a P/E ratio of 22.33.

Based on the recent corporate insider activity of 17 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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