Barclays Maintains Equal-Weight on Magna International, Lowers Price Target to $62
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Dan Levy maintains an Equal-Weight rating on Magna International (NYSE:MGA) and lowers the price target from $63 to $62.

April 11, 2024 | 1:37 pm
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Barclays maintains an Equal-Weight rating on Magna International and lowers the price target from $63 to $62.
The reduction in price target by Barclays, a significant financial institution, could lead to a negative short-term sentiment among investors, potentially causing a decrease in Magna International's stock price. The Equal-Weight rating suggests that the analyst views the stock as adequately valued at its current price, but the lowered target indicates a slight adjustment in valuation expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100