Goldman Sachs Downgrades Magna International to Neutral, Lowers Price Target to $58
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Mark Delaney has downgraded Magna International (NYSE:MGA) from Buy to Neutral and reduced the price target from $73 to $58.

January 03, 2024 | 10:04 am
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Magna International downgraded by Goldman Sachs from Buy to Neutral with a price target decrease from $73 to $58.
The downgrade by a prominent analyst at Goldman Sachs suggests a less optimistic outlook on Magna International's future performance, which could lead to a negative short-term impact on the stock price. The reduction in the price target further emphasizes the expectation of a lower valuation.
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IMPORTANCE 90
RELEVANCE 100