The Globe and Mail reports in its Wednesday edition that strong second quarter results from Magna International ($121.26) are expected to continue, says Citi Research analyst Itay Michaeli (all figures Canadian unless otherwise stated). The Globe's Jody White and Tim Shufelt write in the Eye On Equities column that Mr. Michaeli says: "Magna posted another strong quarter highlighted both by revenue outperformance and margin upside. ... The former was perhaps more impressive as Magna's 2014 production revenue guidance has now risen by more than $1-billion since the start of the year. We ... see continued upside potential to consensus estimates as Magna continues to benefit from the U.S./Europe auto cycles." Mr. Michaeli hiked his target on Magna to $120 (U.S.) from $107 (U.S.). Mr. Michaeli continues to rate Magna "neutral." The Globe's David Milstead was bearish on Magna on April 22, 2013, when it was worth $57.60. Canaccord analyst Martin Roberge recommended taking profits in Magna in the Eye column on Sept. 11, 2013. The shares were then worth $84.12. UBS analyst Colin Langan rated Magna "neutral" with a target price of $101 (U.S.) in the Eye column on April 23, 2014. The shares were then worth $111.59.