UPDATE: Credit Suisse Lifts Target on Magna International to $54

Credit Suisse raises its target price on Neutral-rated Magna International

on stronger-than-expected Q4, although 2012 outlook still looks the same. Credit Suisse says, "MGA reported adjusted 4Q11 EPS of $1.13 vs. our $0.98 and consensus of $1.02. Upside came largely on the top line with total sales of $7.3b beating our $6.8b and consensus of $7.2b. On the bottom line, NA margins were +200 bps better than expected, and reversed the recent trend of YoY compression." MGA closed at $45.41 a share yesterday.