In a report released yesterday, Rich Kwas from Wells Fargo maintained a Buy rating on Magna International (MGA). The company’s shares closed yesterday at $54.44.
According to TipRanks.com, Kwas is a 4-star analyst with an average return of 7.7% and a 66.3% success rate. Kwas covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Rockwell Automation Inc, and Lennox International.
Currently, the analyst consensus on Magna International is a Strong Buy with an average price target of $60.33.
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Based on Magna International’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $554 million. In comparison, last year the company earned revenue of $10.39 billion and had a net profit of $556 million.
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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.
