Magna shares soar on earnings, renewed focus

Nov 6th, 2009 - CNNMoney

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* Shares up nearly 15 pct in Toronto, 14 pct in New York

* Analysts at UBS, BMO, Citigroup up share-price targets

* Company renews focus on auto parts (Adds details, quote; 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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