The Globe and Mail reports in its Tuesday, July 23, edition that while BMO Capital analyst Tamy Chen is sticking with her "outperform" recommendation for Magna International. The Globe's David Leeder writes in the Eye On Equities column that Ms. Chen gave her share target a $5 trim to $55 (all figures U.S.). Analysts on average target the shares at $54.85. Ms. Chen says in a note: "According to IHS, the production outlook has deteriorated in recent months. In the U.S., it appears OEMs such as the Detroit Three continue to prioritize profit per vehicle and are responding to elevated inventory on certain platforms with production cuts rather than higher incentive spending. This is a negative for suppliers. We have lowered estimates for our coverage. Although current valuations are at or toward the low end of historical ranges, which suggests we may be at peak pessimism, we do not yet see signs of positive industry green shoots on the horizon."