RBC Capital Markets raised its price target on the shares of Magna International (MGA.TO, MGA) to US$59.00 from US$48.00.

Analyst Tom Narayan maintained a sector-perform rating on the Canadian auto-parts manufacturer.

"2026 guidance came in well above consensus, as management expects higher GoM for BE&S and P&V as a result of new product launches," Narayan said in a note to clients.

"Given the continued momentum with the company's operational excellence initiatives and supplier multiples re-rating higher, we raise our price target to $59 from $48, which supports our Sector Perform rating," the analyst said.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 0.58, Change: -0.01, Percent Change: -1.69