Goldman Sachs analyst George Galliers has maintained their bullish stance on ALV stock, giving a Buy rating on March 26.
George Galliers has given his Buy rating due to a combination of factors that indicate Autoliv is on a trajectory for substantial progress in the coming year. The forecast for the first quarter adjusted EBIT suggests a significant year-over-year margin improvement, albeit a slight sequential drop from the previous quarter. This anticipated improvement is a reflection of the company’s operational efficiency and hints at a promising financial performance throughout 2024. Galliers expects Autoliv’s margins to experience an average quarterly sequential increase, which underscores the company’s potential for sustained profitability growth.
Additionally, Autoliv’s position within the European auto parts sector is notably strong due to its consistent execution and robust growth outlook. Factors such as commanding market share, favorable secular trends in commercial production volume (CPV), and attractive shareholder returns bolster its equity story. Galliers has updated his estimates to account for recent developments in pricing, cost savings, light vehicle production (LVP), and foreign exchange rates, along with an increased expectation for share buybacks. Despite minor adjustments to the earnings per share (EPS) estimates for the upcoming years, his valuation remains unchanged, with a 12-month price target that supports the Buy rating.
In another report released on March 26, Kepler Capital also maintained a Buy rating on the stock with a $135.00 price target.
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Autoliv (ALV) Company Description:
Autoliv, Inc. engages in the development, manufacture, and supply of automotive safety systems. It operates through the Passive Safety and Electronics segment. The Passive Safety segment includes airbags, seatbelts, steering wheels, and restrain electronics. The Electronics segment comprises of restraint control systems, brake control systems and active safety. The company was founded by Lennart Lindblad in 1953 and is headquartered in Stockholm, Sweden.
