Goldman Sachs analyst George Galliers has maintained their bullish stance on ALV stock, giving a Buy rating on April 22.
George Galliers has given his Buy rating due to a combination of factors that indicate Autoliv’s strong financial performance and promising outlook. The company outperformed expectations with its adjusted EBIT for the first quarter of 2024, surpassing both the consensus and Goldman Sachs’s own predictions. This financial metric not only beat forecasts but also showed significant year-over-year improvement, thanks to a combination of strong organic growth, successful price adjustments, and continuous cost-cutting measures. These strategies effectively countered rising labor costs, contributing to a higher profit margin.
Despite some challenges in free cash flow due to less favorable working capital changes than predicted, Galliers remains optimistic about Autoliv’s prospects. The company’s reaffirmed guidance for the fiscal year 2024 suggests healthy organic growth and an adjusted EBIT margin that aligns with expectations. Furthermore, these projections are supported by the company’s ongoing efforts to mitigate costs and enhance operational efficiency. Galliers’ recommendation reflects confidence in Autoliv’s ability to maintain financial resilience and deliver on its projected performance targets.
Galliers covers the Consumer Cyclical sector, focusing on stocks such as Mercedes-Benz Group, Bayerische Motoren Werke Aktiengesellschaft, and Autoliv. According to TipRanks, Galliers has an average return of 5.2% and a 55.40% success rate on recommended stocks.
In another report released on April 22, Kepler Capital also maintained a Buy rating on the stock with a $135.00 price target.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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.
