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StocksUpdated×2•Originally published 4 May 2026•Updated 6 May 2026•

1 min read

Magna International Upgraded to Buy Following Strong Q1 Earnings Beat

Key Facts

1Veritas Investment Research upgraded Magna International to a 'Buy' rating with a price target of $68.00.

2The company reported adjusted EPS of $1.38, surpassing the Zacks Consensus Estimate of $1.01.

3First quarter revenues reached $10.38 billion driven by strong demand for auto parts despite a decline in global vehicle production.

Veritas Investment Research has upgraded Magna International to a 'Buy' rating with a $68.00 price target, following a 3% growth in sales to $10.4 billion. This performance significantly outperformed the broader market, which saw a 7% decline in global light vehicle production. The company reported a substantial 58% increase in EBIT and a 77% year-over-year surge in adjusted EPS, driven primarily by robust margin expansion. These financial milestones were accompanied by the results of the Annual General Meeting, where shareholders elected 12 directors and reappointed Deloitte LLP as the independent auditor. Analysts highlight that Magna's ability to drive earnings growth despite production headwinds, coupled with its stable governance, positions the firm for sustained outperformance in the automotive sector.

29 days ago

Version History

1 additional source confirmed this story

Version 229 days ago

What changed: The story was updated to include the 3% sales growth figures, the company's outperformance relative to global production declines, and specific details on the significant EBIT and EPS growth.

Version 1about 1 month ago

What changed: The story was updated to include the outcomes of the 2026 Annual General Meeting, covering board elections, auditor reappointment, and changes in board composition.