March 1, 2019 / 9:41 PM / 8 months ago

BUZZ- Martinrea International rises on Q4 sales beat

** Shares of Canadian auto-parts supplier up 12.55 pct at $13.81 ; best day since March 2014

** Co posts Q4 sales ahead of estimates; says in recent months has won new business worth C$230 mln in annualized sales at peak volumes

** Announces “significant” new contracts dominated by demand for lightweight structures for Fiat Chrysler, BMW and Toyota

** Q4 net income rises nearly 17 pct to C$37.8 mln

** Brokerage TD Securities raises price target to C$17.50 from C$16; rates the stock “buy”

** Including today’s gains, MRE shares up 27 pct (Reporting by Shradha Singh in Bengaluru)

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