Citigroup Maintains Neutral on Magna International, Raises Price Target to $59
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Itay Michaeli has maintained a Neutral rating on Magna International (NYSE:MGA) and raised the price target from $57 to $59.
July 18, 2023 | 4:13 pm
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NEUTRAL IMPACT
Citigroup has maintained a Neutral rating on Magna International and raised the price target from $57 to $59.
The news is directly about Magna International. The Neutral rating indicates that Citigroup does not expect the stock to outperform or underperform the market in the short term. However, the increase in price target could be seen as a positive signal, suggesting that Citigroup believes the stock is worth more than its previous target. This could potentially lead to a slight increase in the stock price, but the Neutral rating suggests that any such increase may not be significant.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100