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Magna a 'table-pounding buy': Ruus

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Magna International (MG-T) was punished for its European exposure in 2011. The region accounts for about half of the auto parts maker's revenue, and analysts and investors were concerned Magna would be hit by the euro zone's ongoing sovereign debt crisis.

But 2012 has been much better for shareholders, as the company's stock price has risen more than 30 percent year-to-date. And Alex Ruus, Portfolio Manager and Executive VP at BluMont Capital, says there is plenty more upside.

"It's got at least 50 or 60 percent upside from here in the next 12 to 24 months and it's crazy not to own it," he tells BNN. While Ruus says the company will likely continue to feel the impacts of Europe's debt problems, investors should focus on the long-term.

"If you invest in equities you have to look out further than the next quarter, you have to look out a year or two years and if you invest on that basis, this is table-pounding buy."

Ruus says Magna is situated to benefit from a transformation taking place among the world's largest auto makers.

"The big [automakers] are getting bigger and the companies more global. The companies are continuing to have more global platforms…and to be a supplier to these guys where they use a common platform in Asia, North American and Europe you need a global footprint," he says. "Magna is one of the few companies out there that is setup to serve the needs of [these] customers."

Among the analysts that cover the company, 11 have 'buy' recommendations and eight have 'hold' recommendations, according to Bloomberg.

Magna is set to report fourth quarter results after the bell on Thursday.

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