News Snapshot:
Magna International (TSX:MG) is one of the world’s largest automotive suppliers. It designs, develops, and manufactures automotive components, systems, and modules for various automotive manufacturers. Amid improvement in broader market conditions and better-than-expected first-quarter sales, MG has witnessed solid buying, with its stock price rising by 33.2% compared to its April lows. Despite the recent surge, the company’s stock still trades 1.5% lower for the year and is down 13.3% compared to its 52-week high. Meanwhile, let’s examine its first-quarter performance, growth prospects, and valuation to determine buying opportunities in the stock. MG’s first-quarter performance In May, MG reported its...