The Globe and Mail reports in its Saturday edition that RBC Dominion Securities Steve Arthur continues to see "compelling fundamental and relative values" for Magna International after it delivered "strong" first quarter results. The Globe's David Leeder writes that on Thursday, Magna posted quarterly revenue of $9.37-billion, up 5.3 per cent year over year and ahead of both Mr. Arthur's projection of $9.11-billion and the consensus of $9.15-billion (all figures U.S.). Adjusted earnings per share of $1.55 topped the $1.34 expectation of both the analyst and the Street, and it represented a 26.5-per-cent rise from the previous year. Mr. Arthur says in a note: "Magna delivered Q1 results well ahead of expectations, while raising 2017E outlook. The shares responded (up 4.5 per cent), though still trade at an unwarranted discount to the supplier group, in our view. Importantly, discussion at the AGM and on the conference call focused on Magna's technology offerings and strong business mix, which when better understood should serve to narrow the multiple gap." With an "outperform" rating, Mr. Arthur raised his target for the stock to $60 from $54. Analysts on average target the shares at $52.19.