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Magna International Inc pullback overdone - " analyst

2015-01-16 16:37:15| Automakers - Topix.net

Magna International Inc.'s guidance on Wednesday came in below the average analyst forecast, so the stock's subsequent decline comes as little surprise. The Canadian auto-parts maker's revenue outlook of US$34.4-billion to US$36.1-billion was largely currency related, but also likely the result of lower revenue from its Chrysler minivan program and lower volumes at Magna Steyr in Austria.

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Category:Automotive

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