MGA Similar Chart Price Prediction
The price of MGA is predicted to go up -26.45%, based on the high correlation periods with NCNA. The similarity of these two price pattern on the periods is 93.37%.
MGA
NCNA
Down: -26.45%Similarity: 93.37%
MGA Revenue Forecast
MGA EPS Forecast
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MGA VS S&P500
High switching costs often enable sticky market shares for auto suppliers.
Magna sees growth over time, even with tepid industry vehicle production growth, thanks to more content on vehicles.
As automakers consolidate purchases with fewer suppliers, large vendors such as Magna are in the best position to gain share because they can offer a wide range of parts, modules, and complete systems.
MGA Analyst's Forecast
Tom Narayan
RBC Capital
Hold → Buy
2025-01-24
Price Target
$41 → $52
Upside
+26.31%
RBC Capital upgraded Magna to Outperform from Sector Perform with a price target of $52, up from $41. The firm's channel checks suggest that while downshifting sequentially, as typical with seasonality, January U.S. auto sales are holding up. Given an improving production backdrop, U.S. December inventories being much better than expected, January U.S. sales tracking better, and Europe electric vehicle sales stronger than expected in December, pointing to a better 2025, RBC likes the setup for Magna into 2025, the analyst tells investors in a research note.
Mark Delaney
Goldman Sachs
Hold → Strong Sell
2024-12-11
Price Target
$42 → $41
Downside
-8.99%
Tom Narayan
RBC Capital
Hold
2024-11-04
Price Target
$42 → $41
Downside
-3.71%
