Autoliv (ALV) Receives a Rating Update from a Top Analyst

By Ryan Adsit

Mizuho Securities analyst Vijay Rakesh reiterated a Hold rating on Autoliv (ALVResearch Report) today and set a price target of $80. The company’s shares opened today at $77.61.

Rakesh noted:

“We believe there could still be challenges to ALV’s LVP estimate of down ~1% 2019 SAAR assumption (vs IHS up 1.1% 2019 LVP growth) given China/ Europe declining 14%/9% y/y now and high inventory levels in China. China slowdown, offset by strength in U.S though it could see U.S. slowdown. ALV noted it grew better “down only 3.8%” versus the ~15% decline in China though softer in Europe “down 6.4%” versus EU down 4.6% with slower LVP, but U.S was the strongest growing ~20%. While ALV expects 2019 U.S to remain strong, with OEMs cutting back on sedans, rising interest rates and historical high in U.S dealer incentives could point to 2019 U.S challenges.”

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 19.8% and a 58.0% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Western Digital.

Currently, the analyst consensus on Autoliv is a Hold with an average price target of $81.55, implying a 5.1% upside from current levels. In a report released yesterday, Wells Fargo also maintained a Hold rating on the stock with a $83 price target.

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Autoliv’s market cap is currently $7.18B and has a P/E ratio of 19.70. The company has a Price to Book ratio of 3.31.

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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.