The Globe and Mail reports in its Tuesday edition that Scotia Capital analyst Jonathan Goldman is keeping his "sector perform" ranking for Magna International intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Goldman hiked his share target by $1 (U.S.) to $62 (U.S.). Analysts on average target the shares at $66.78 (U.S.). Mr. Goldman says in a note: "We expected a beat and saw upside to guidance. Were we surprised by the 9-per-cent move in the shares? Yes and no. We attribute some of stock price reaction to short covering and market volume. Incremental data points were positive: the strike impact was better than feared, esp. given a number of Magna's top 15 platforms were on strike, and cost containment/recoveries were ahead of plan. But, we were more surprised that shares did not react to previous data points (i.e., stronger reported volumes in all regions, improving trend in commodities/energy, positive Tier 1 read-throughs, strike resolutions). Naturally, the question is how much upside is there from current levels? We modestly raised our estimates; we were already ahead of the Street. Management definitely deserves the credit for its ability to execute in the base business."