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Magna International (MG) Gets a Buy Rating from Wells Fargo


According to The Fly, the Conglomerates sector company, Magna International (MG), has received a rating update from a Wall Street analyst yesterday. The company recieved Buy from Wells Fargo’s analyst Rich Kwas.

According to TipRanks.com, Kwas is a 4-star analyst with an average return of 7.6% and a 62.4% success rate. Kwas covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation Inc, Magna International, and Tower International.

Magna International has an analyst consensus of Moderate Buy, with a price target consensus of C$67.

The company has a one-year high of C$87.13 and a one-year low of C$59.93. Currently, Magna International has an average volume of 1.27M.

Magna International, Inc. designs, develops and manufactures automotive systems, assemblies, modules and components. It assembles complete vehicle, primarily for sale to original equipment manufacturers of cars and light trucks in North America, Europe, Asia, South America and Africa.

The company’s shares closed on Thursday at C$68.43.