Analyst Colin Langan from Wells Fargo maintained a Hold rating on Autoliv (ALV – Research Report) and increased the price target to $128.00 from $126.00.
Colin Langan has given his Hold rating due to a combination of factors surrounding Autoliv’s current market position and future prospects. Autoliv’s stock experienced an uptick following a first-quarter performance that exceeded expectations and the company’s ability to maintain its guidance for the year 2024. Despite challenges such as delays in electric vehicle launches and volatility in Asian markets, Autoliv is making progress towards its margin and organic growth targets for the fiscal year 2024. This progress is largely attributed to the company’s effective restructuring efforts which are compensating for the slower-than-expected improvement in production call-offs.
Furthermore, Autoliv’s management has demonstrated confidence in their ability to recover labor costs, reinforcing the belief that the company is on track to meet its financial targets. Autoliv also benefits from a strong position in the passive safety market, which is expected to contribute to margin improvements. Additionally, there are emerging opportunities in markets like China and India, where Autoliv is not only outperforming local vehicle production levels but also increasing its market share with domestic OEMs. These factors collectively form the basis of Colin Langan’s Hold rating, indicating a balanced view of potential risks and rewards associated with the Autoliv stock at the current time.
In another report released on April 22, J.P. Morgan also maintained a Hold rating on the stock with a $129.00 price target.
ALV’s price has also changed moderately for the past six months – from $95.280 to $122.290, which is a 28.35% increase.
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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.
