Magna International Inc. (NYSE:MGA) is included among the 10 Best Canadian Dividend Stocks to Buy for the Next 5 Years.
On June 4, Citi raised its price recommendation on Magna International Inc. to $75 from $58. It reiterated a Neutral rating on the stock. The firm believes Magna stands to benefit from improving demand trends in North America and recent business wins. Even so, Citi sees the shares as fairly valued at current levels.
Earlier in May, TD Securities also increased its price objective on Magna to $76 from $75. It kept a Buy rating on the shares. The firm described the company’s first-quarter results as solid. Analyst Brian Morrison said in a research note that Magna is well-positioned to deliver results at the mid-to-high end of its guidance. TD also views the post-earnings pullback in the stock as a buying opportunity.
Magna International Inc. is a Canada-based mobility technology company. It supplies automotive components and systems, with expertise in body and chassis products, all-wheel-drive and front-wheel-drive systems, transmissions, latches, mirrors, and contract vehicle assembly.
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