Scotiabank Lifts Magna Target to $57 Citing 2026 Tariff Cost Risks
Scotiabank analyst raised Magna’s price target to $57 from $52, citing 2026 tariff-driven production cost increases that may be passed onto consumers and risk weighing on supplier earnings. Barclays lifted its target to $58 from $52, and Goldman Sachs upped its target to $68 from $60 while maintaining a Sell rating.
1. Scotiabank Raises Price Target
On January 27, Scotiabank analyst Jonathan Goldman increased Magna International’s price target to $57 from $52 and affirmed a Sector Perform rating. The firm highlighted that new U.S. and Canadian vehicle tariffs in 2026 are likely to push higher production costs onto suppliers or end consumers, potentially dampening the supplier’s earnings.
2. Barclays Increases Forecast
Two analysts at Barclays adjusted their outlook on January 23, raising Magna’s price target to $58 from $52 with an Equal Weight rating. This change followed a sector-wide review ahead of Q4 2025 results, noting that stable production levels among carmakers, rather than suppliers, are currently driving superior earnings performance in the autos industry.
3. Goldman Sachs Revises Target With Sell Rating
On January 15, Goldman Sachs lifted its target for Magna shares to $68 from $60 but maintained a Sell rating. The bank’s revision factors in recent automotive sales trends and supplier commentary from industry conferences, reflecting a cautious stance on 2026 growth expectations despite higher share-price projections.