The Globe and Mail reports in its Wednesday, Feb. 18, edition that RBC Capital Markers 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's share target soared $11 to $59 (all figures U.S.). Analysts on average target the shares at $56.56. Mr. Narayan says in a note: "Magna expects a fourth consecutive year of margin expansion supported by its robust pipeline (2028 business 90-per-cent secured) and operational excellence initiatives. However, near-term headwinds are notable: Seating faces a 6-per-cent revenue decline from the Ford Escape retooling and model transitions, pressuring near-term margins despite cost mitigation. Despite new Chinese OEM launches, CV guidance was negatively impacted by lower engineering revenue and the end of production of certain programs. We view the year-over-year declines in these segments as less impactful given lower margin profile relative to BE&S and P&V." The Globe reported on April 11 and Aug. 22 that Mr. Narayan had reaffirmed his "sector perform" recommendation for Magna International. The shares could then be had for $32.21 and $46.08.