Magna price target raised to $45 from $44 at UBS

UBS raised the firm’s price target on Magna (MGA) to $45 from $44 and keeps a Neutral rating on the shares. Sentiment was poor going into the quarter, though the in-line print and the announcement of the buyback authorization eased some negative sentiment, the analyst tells investors in a research note. The firm remains on the sidelines until there is more visibility, though these initiatives are a step in the right direction.