The Globe and Mail reports in its Thursday edition that Citi analyst Itay Michaeli is keeping his "neutral" call on Magna International intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Michaeli gave his share target a $2 boost to $61 (all figures U.S. unless otherwise stated). Analysts on average target the shares at $67.75. The Globe says Mr. Michaeli elevated his earnings expectations for Magna through 2024 in response to its second quarter results. His fiscal 2023 earnings per share projection jumped to $5.32 from $5.06, while his 2024 expectation jumped to $6.72 from $6.62. Mr. Michaeli says in a note: "We remain 'neutral-rated' on what we regard as generally balanced risk/reward from here. In terms of next events/catalysts, the company will host a Virtual Investor Update on Sept 7th, where we expect a focus on key megatrends including the recent Veoneer ADAS acquisition. Given Magna's higher North America exposure, the stock could experience added near-term volatility tied to potential U.S. automaker labour disruption in Sept." The Globe reported on Feb. 14 that Mr. Michaeli had reaffirmed his "neutral" recommendation for Magna when it could be had for $74.49 (Canadian).