Magna shares race higher on earnings, Opel fallout

Nov 6th, 2009 - CNNMoney

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* Shares end up 14.2 pct in Toronto, 13.1 pct in New York

* UBS, BMO, Citigroup and CIBC up share-price targets

* Company renews focus on auto parts

* Shares up over 25 percent since Opel deal terminated

(Adds details, updates share price)

TORONTO (Reuters) - Shares of Magna InternationalInc surged nearly 15 percent Friday, a day after itposted a surprise quarterly profit and said it would focus onits core auto-parts business after the collapse of its deal tobuy a stake in General Motors Co's Opel unit.

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