22:06:15 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 389,659,171
Close 2016-07-26 C$ 51.79
Market Cap C$ 20,180,448,466
Recent Sedar Documents

FP says Taylor's Willemse sees "great value" in Magna

2016-07-27 09:01 ET - In the News

The Financial Posts reports in its Wednesday, July 27, edition that there are several reasons to be bullish on the Canadian equity market. The Post's Jonathan Ratner writes in the Buy & Sell column that Taylor Asset Management has almost $1-billion in assets under management. Chief investment officer David Taylor began shifting his investments out of the United States and into Canada late in 2015. He says there was no question that weak oil prices was the primary driver for Canada underperforming every other developed market in 2015. He says, "Investors tend to run when things are falling, and chase winners." He says if you believe oil will not stay below $30 (U.S.), then you could argue that many industries that are tied peripherally to oil will have "room to outperform." He says low oil prices and a weak loonie will benefit the manufacturing base in Quebec and Ontario. As a result, Mr. Taylor recommends buying Magna International. He says, "There is a big fear that the U.S. auto cycle has peaked." He notes Magna's valuation has been cut in half as a result. Taylor analyst Michael Willemse says, "When you can get a high-quality company like Magna for 6.5 times earnings, we think that is great value."

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