Magna International shares rise 5.03% intraday after reporting strong Q2 earnings and raising full-year sales forecasts.

Magna International surged 5.03% in intraday trading following a series of positive catalysts, including raised full-year sales forecasts, strong second-quarter earnings that exceeded estimates, and analyst upgrades. Recent headlines highlighted Magna’s beat on earnings per share, improved guidance driven by sustained demand for auto parts, and strategic investments in electrification and industrial automation. Analysts from CIBC, UBS, and BMO raised price targets or reiterated bullish ratings, citing Magna’s diversified exposure to EV components, ADAS, and cost discipline. Additionally, Magna’s commitment to net-zero by 2050 and its $790 million investment in EV infrastructure further bolstered investor confidence. These developments aligned with the stock’s intraday rally, reflecting optimism about its positioning in the evolving automotive supply chain.