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Fly News Breaks for May 14, 2018
MGA
May 14, 2018 | 08:51 EDT
As noted earlier, Evercore analyst Chris McNalty initiated Magna with an Outperform rating and a price target of $80. The analyst says the company is "hiding in plain sight" the investment opportunity to own a "best-in-class, diversified, mega supplier" with "strong" visibility to transform its business from legacy toward growth over the course of the next cycle. McNalty adds that his Sum-of-Parts valuation model is also "compelling" while anticipating an inflection in margins and accelerating growth in FY19.
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