Magna International Inc. (NYSE: MGA)

• The negative sentiment towards the auto industry provides an opportunity to buy a diverse and innovative global automotive supplier.
• In 2016 Magna was able to increase sales by 13% to $36.54 billion while the global light vehicle production increased by only 4%.
• We think the company is taking the right steps to thrive in the industry through technological innovation and commercialization.

See full MGA article here

Magna International Inc. (NYSE: MGA)

¡Leading global automotive supplier

§Seating systems

§Vision systems

§Roof systems

§Electronic systems

§Body and chassis systems

¡Customers:  GM, Ford, Chrysler, Tesla, Volkswagen, BMW, Toyota

¡292 manufacturing operations

¡83 product development, engineering, & sales centers in 29 countries

	MGA $42.64	Industry Average
Mkt Cap	16.39B
PE	8.34	21.88
PB	1.67	2.89
P/CF	5.37	13.01
ROEQ	21.84	10.67
YLD	2.35%	2.70%
Est. LT Gr Rate	11.35%

Risks
¡6 largest customers represented 83% of sales
¡Political and economic conditions
¡Cyclical automotive industry