09:26:25 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 408,637,092
Close 2015-09-28 C$ 60.93
Market Cap C$ 24,898,258,016
Recent Sedar Documents

FP says Magna, rivals seen surviving VW scandal

2015-09-29 08:30 ET - In the News

Also In the News (C-LNR) Linamar Corp
Also In the News (C-MRE) Martinrea International Inc

The Financial Post reports in its Tuesday, Sept. 29, edition that analysts continue to voice their support of Canadian auto-parts suppliers in the wake of Volkswagen's emissions-cheating scandal. The Post's Jonathan Ratner writes in the Trading Desk column that analysts think the impact on Canadian players will ultimately be relatively limited and that the recent weakness in shares of Magna International, Linamar, Martinrea International and Exco Technologies presents a buying opportunity. Last week, Linamar issued a news release stating it anticipates no financial impact related to the Volkswagen fallout. TD Securities analyst Brian Morrison notes VW accounts for less than 5 per cent of Linamar's total business. He says, "Linamar may potentially be a benefactor of heightened fuel efficiency awareness as a result of current events." Mr. Morrison say Magna will likely face a limited financial impact from the VW scandal. Scotiabank's Mark Neville also expects a largely immaterial impact on Canadian suppliers. "While we believe we could see a decline in diesel-vehicle volumes on recent news, we don't necessarily expect a decline in overall industry volumes," says Mr. Neville.

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