J.P. Morgan Remains a Buy on Magna International (MGA)
In a report released today, Ryan Brinkman from J.P. Morgan maintained a Buy rating on Magna International, with a price target of $70.00.
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According to TipRanks, Brinkman is an analyst with an average return of -0.2% and a 50.71% success rate. Brinkman covers the Consumer Cyclical sector, focusing on stocks such as Visteon, Magna International, and Lear.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Magna International with a $62.48 average price target.
Based on Magna International’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$10.21 billion and a GAAP net loss of C$11.8 million. In comparison, last year the company earned a revenue of C$10.07 billion and had a net profit of C$146 million
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGA in relation to earlier this year.
