CIBC Capital Markets lowered its price target on Magna International Inc. (MG.TO, MGA) to US$44 from US$48.
Analyst Krista Friesen maintained a Neutral rating on shares of the Canadian auto parts manufacturer.
"MGA had a solid end to the year with its Q4 earnings above expectations; however, all attention was on its guidance for 2025 and 2026," Friesen said in a note to clients. "Top-line guidance for 2025 and 2026 was disappointing, notably below our and consensus expectations."
"The margin guide for 2026, however, was somewhat surprising and was above what we and the Street had anticipated, with the low end 50 bps ahead of Street estimates and the high end 120 bps above estimates," the analyst said.
"Given the significant headwinds facing the industry and heightened level of uncertainties, we do not believe MGA will be able to reach even the low end of its guidance."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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