02:51:24 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 383,354,375
Close 2017-01-17 C$ 57.13
Market Cap C$ 21,901,035,444
Recent Sedar Documents

Globe says Magna, rivals buckle up for the Trump era

2017-01-18 09:04 ET - In the News

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

The Globe and Mail reports in its Wednesday, Jan. 18, edition that president-elect Donald Trump is adept at wiping out shareholder value with his periodic blurts. The Globe's David Milstead writes that Mr. Trump's latest victims are Magna International and Linamar. Both stocks fell nearly 4 per cent Monday, and failed to recover Tuesday, after Mr. Trump unleashed yet another attack on foreign automobile imports. Magna and Linamar, already cheap compared with their U.S. peers, may look even more like bargains to their advocates, some of whom call the stocks their very best investing ideas for 2017. Investors, however, should consider whether Mr. Trump's latest tantrum and the uncertainty he continues to inject into the marketplace represents yet another risk factor that will help keep the shares suppressed this year. Magna, Linamar and Martinrea International trade at big discounts to their U.S. counterparts, despite the potential, particularly in the case of Magna, for above-market growth. KeyBanc Capital analyst Brett Hoselton rates Magna "outperform" with a $50 (U.S.) target. He says 2018 "is likely to be a breakout year" for Magna as sales and profit margins accelerate.

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