Magna price target lowered to $50 from $52 at TD Securities

TD Securities lowered the firm’s price target on Magna (MGA) to $50 from $52 and keeps a Buy rating on the shares as part of a Q4 preview. The firm is positive on Magna’s mid-term outlook, but maintains the stock’s near-term catalysts may prove limited. Although U.S. consumer demand remains resilient, inventory management, foreign exchange volatility, and tariff threats “all present near-term headwinds,” the analyst tells investors in a research note.