Wall Street Strategies Comments On Magna International; Reiterates Buy

Wall Street Strategies Comments On Magna International; Reiterates Buy After Magna International MGA released its operating results in late February, Wall Street Strategies first reiterated its Buy rating and $75 PT. After the release, the stock was hit hard as the company missed expectations on the bottom line but beat on the top line. There are two metrics being monitored closely to measure its success; average dollar content per vehicle, and production. The Company reported that revenues increased 21.8% to $6.60 billion from $5.42 billion year over year as each segment improved double digit percentages compared to the fourth quarter of 2009. The largest increases came from the Rest of World and Tooling, Engineering, Other segments. The Company reported that earnings swung to a profit of $0.88 per share from a loss of $0.62 per share year over year. Wall Street Strategies excluded impairment charges as well as some other special charges to get our results of earnings of $0.97 per share during the fourth quarter compared to a loss of a $0.14 per share in the fourth quarter of 2009. MGA closed Monday at $50.15