Magna International Inc. MGA 2.97%
Breaking News: Analyst Upgrade Sends Stock Higher
BMO Capital Markets just upgraded Magna International from Market Perform to Outperform. This also includes a change in price target from $64 a share to $75 a share.
Peter Sklar is saying that new technology could help raise the price over the next few months. Magna designs and manufactures automotive systems. They also have recently signed a deal with LYFT which also has shown to have a great impact on the stock. The announcement today of the BMO Capital Upgrade has lifted stock price by over 3% to $65.19 as of high trading on Monday.
Magna is run by CEO Don Walker who has been with the Company since 1987.