The Globe and Mail reports in its Wednesday, Aug. 14, edition that RBC Capital Markets analyst Tom Narayan has reaffirmed his "sector perform" recommendation for Magna International. The Globe's David Leeder writes in the Eye On Equities column that Mr. Narayan cut his share target to $47 from $57 (all figures U.S.). Analysts on average target the shares at $51.33. Mr. Narayan says in a note: "Magna's H2/24 guidance implies a significant upswing in EBIT across the company's business segments. UAW comps and some one-timers should help, but for the most part, the improved margin profile is a show-me story. Finally, while buybacks could be on the table in the future, for now, management is focused on bringing leverage down." The Globe reported on April 19 that CIBC rated Magna International "neutral." It was then worth $48.34. The Globe reported on May 7 that Scotia Capital's Jonathan Goldman had reaffirmed his "sector perform" call for Magna International. The shares could then be had for $46.60. The Globe reported on May 3 that Scotia Capital analyst Jonathan Goldman had reaffirmed his "sector perform" call for Magna International. The shares could then be had for $46.70.