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Friday’s analyst upgrades and downgrades

Magna International Inc. appears to be fully valued at the moment, though investors can expect “moderate share price appreciation for the next couple of years,” said Canaccord Genuity analyst David Tyerman.

The parts maker surprised analysts by forecasting its emerging markets margin would reach about 75 per cent of North American levels, or about 7.0-7.5 per cent, in two to three years, Mr. Tyerman said. “This is quicker than we expected, and we adjusted our forecast accordingly.”