Scotiabank Raises Magna (MGA) PT to $57 Amid 2026 Tariff Concerns

Core Viewpoint - Magna International Inc. is considered one of the most undervalued Canadian stocks, with multiple analysts raising their price targets amid concerns over increased vehicle production costs due to tariffs expected to impact consumers and suppliers in 2026 [1][2][3]. Group 1: Analyst Price Target Adjustments - Scotiabank analyst Jonathan Goldman raised the price target for Magna to $57 from $52 while maintaining a Sector Perform rating, highlighting potential risks to production volumes that affect supplier earnings [1]. - Barclays analyst Dan Levy increased the price target for Magna to $58 from $52 with an Equal Weight rating, favoring vehicle manufacturers over suppliers due to stable production rates and reduced losses in electric vehicle programs [2]. - Goldman Sachs raised the price target for Magna to $68 from $60 with a Sell rating, reflecting recent automotive sales data and supplier comments regarding growth expectations for 2026 [3]. Group 2: Company Overview - Magna International Inc. manufactures and supplies vehicle engineering, contract, and automotive space, operating through four segments [4].