July 31 (Reuters) - Magna International ( MGA ) raised its

annual profit forecast following a second-quarter earnings beat

on Friday, betting on improving demand from a stream of new

launches.

The Canadian auto parts supplier is among the world's

largest component manufacturers, selling everything from mirrors

and headlights, to chassis and advance driver assistance

systems.

Here are some more details:

* While many automakers have scaled back on their

electrification programs as global demand mellows, Magna said it

was aided by the new launches, which helped offset lower global

light vehicle production.

* Magna now expects 2026 adjusted profit to range between

$6.70 and $7.30 per share, compared to an earlier projection of

$6.25 to $7.25 per share.

* The mid point of the new range is above analysts'

expectation of a $6.73 adjusted profit per share, according to

data compiled by LSEG.

* Magna reported an adjusted profit of $1.86 per share in

the quarter to June 30, up from $1.44 a year before and above

analysts' expectation of a $1.50 profit per share, according to

data compiled by LSEG.

* Quarterly sales, meanwhile, grew 3.3% to $10.98 billion.

* The company, however, lowered its annual sales target to a

range of $41.3 billion to $42.5 billion from $41.5 billion to

$43.1 billion it had previously forecast.