Will This Price Target Increase Help Magna International (MGA) Today?

Story updated at 9:55 a.m. to reflect market activity.

NEW YORK (TheStreet) -- KeyBanc raise its price target for Magna International (MGA) to $130 from $115 Monday, reiterating its "buy" rating.

Shares of Magna gained 0.1% to $111.58 in morning trading.

The firm also raised its EPS estimates for the company through 2015. Magna is realizing higher margins according to KeyBanc analysts.

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Separately, TheStreet Ratings team rates MAGNA INTERNATIONAL INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate MAGNA INTERNATIONAL INC (MGA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 39.80% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, MGA should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • MAGNA INTERNATIONAL INC has improved earnings per share by 12.1% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. During the past fiscal year, MAGNA INTERNATIONAL INC increased its bottom line by earning $6.77 versus $6.09 in the prior year.
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Auto Components industry average. The net income increased by 6.5% when compared to the same quarter one year prior, going from $369.00 million to $393.00 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 10.2%. Since the same quarter one year prior, revenues slightly increased by 7.2%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • You can view the full analysis from the report here: MGA Ratings Report

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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