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Magna International founder Frank Stronach
Magna International founder Frank Stronach

Tuesday’s analyst upgrades and downgrades

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated during the trading day.

RBC Dominion Securities says it is increasingly confident that Magna International Inc. is poised for significant earnings growth.

Recent investor meetings have reinforced drivers of future growth for Magna, said RBC analyst Steve Arthur. He reiterated his “outperform” rating and raised his target price on Magna’s shares to $118 (U.S) from $113. But he also said he sees plausible scenarios in which Magna’s shares could increase beyond the $150-mark.