CIBC Cuts Magna International (MGA) Price Target to $70

CIBC adjusted its outlook on Magna International Inc. (NYSE:MGA) on October 21, 2026, issuing a Neutral rating while lowering its price target to $70 from $78. Research notes from major financial institutions guide how market participants view near-term stock performance by outlining expected valuation milestones.

MGA Magna International Inc.

$64.38 ▲ +20.49% year to date

1M 3M YTD

Daily close · Oct 22, 2026

CIBC's Call on Magna International

In its October 21, 2026 research note, CIBC lowered its target for the automotive supplier to $70 from $78, joining other recent updates from Wall Street research desks. Prior to this note, BMO Capital downgraded the stock to Market Perform with a $70 target on September 18, 2026. Later, on October 9, 2026, Barclays maintained an Equal-Weight rating while lifting its target to $70 from $68. RBC Capital maintained a Sector Perform rating with a $68 target on October 12, 2026, and Morgan Stanley maintained an Equal-Weight rating with a $68 target on October 15, 2026.

Other Institutional Activity in Magna International

Large investment firms adjusted their share counts in the company during the second quarter of 2026. Pzena Investment Management LLC reduced its holdings by 1,446,293 shares, ending with 23,882,824 shares worth about $1.53 billion. Royal Bank of Canada grew its holdings by 525,700 shares, ending with 10,833,542 shares worth about $696.1 million. Hotchkis & Wiley Capital Management, LLC trimmed its stake by 1,049,505 shares, leaving it with 8,795,761 shares valued at roughly $565.1 million. Bank of Montreal /CAN/ grew its position by 517,171 shares to hold 6,156,991 shares worth about $395.6 million. FIL LTD grew its holdings by 773,983 shares, ending with 5,596,309 shares worth about $359.6 million.

Magna International Inc. Stock Down 0.2%

Magna International shares recently traded around $63.70. That level places the stock about 3.4% below its 50-day moving average of $65.92 and roughly 2.0% above its 200-day moving average of $62.43. The stock sits 13.0% below its 52-week high of $73.22 and 42.7% above its 52-week low of $44.64. The company carries a market capitalization of roughly $17.19 billion and a forward P/E ratio of 8.3.

Recent Earnings

Magna International reported trailing-twelve-month revenue of $42.67 billion and trailing-twelve-month earnings of $2.72 per share. The company generated a net profit margin of 1.8% alongside a return on equity of 6.5%. Year-over-year revenue growth ticked up 3.3%. The company's next earnings report is scheduled for October 30, 2026.

Dividend

Magna International distributes an annual dividend rate of $1.98 per share, which translates to a dividend yield of 3.1%. The company's dividend payout ratio stands at 72.1% of earnings.

About Magna International

Magna International Inc. operates as a global automotive supplier serving original equipment manufacturers across North America, Europe, Asia Pacific, and other international markets. The company designs, develops, and manufactures automotive systems, assemblies, modules, and complete vehicles. Its operations span four key segments focusing on body exteriors and structures, power and vision systems, seating, and complete vehicle manufacturing.

Bottom Line

CIBC's updated target comes just ahead of the company's next scheduled earnings release on October 30, 2026. Investors will monitor upcoming financial results and margin trends to see how the supplier navigates current automotive sector demand.