Jefferies Reiterates a 'Hold' on Autoliv, Inc. (ALV); Q2 Review: Cutting Outlook
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Price: $78.13 +0.86%
Rating Summary:
1 Buy, 12 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 12 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ALV Now!
Jefferies reiterates a 'Hold' on Autoliv, Inc. (NYSE: ALV) price target of $61.00 (from $63.00).
Analyst, Peter Nesvold, said, "ALV fell 2% after posting inline 2Q revenue and margins but guiding to a weaker sales outlook for 2H. Although lower production in Europe is not a surprise to anyone, we expect Street estimates will continue to come down for ALV (and the auto group) over the next few weeks as analysts catch up with the lowered European outlook. We think that creates a difficult near term backdrop for the stock to outperform."
Cuts FY12 EPS estimate from $6.33 to $6.11 and FY13 from $7.15 to $6.75.
For an analyst ratings summary and ratings history on Autoliv, Inc. click here. For more ratings news on Autoliv, Inc. click here.
Shares of Autoliv, Inc. closed at $55.48 yesterday, with a 52 week range of $44.38-$69.78.
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Analyst, Peter Nesvold, said, "ALV fell 2% after posting inline 2Q revenue and margins but guiding to a weaker sales outlook for 2H. Although lower production in Europe is not a surprise to anyone, we expect Street estimates will continue to come down for ALV (and the auto group) over the next few weeks as analysts catch up with the lowered European outlook. We think that creates a difficult near term backdrop for the stock to outperform."
Cuts FY12 EPS estimate from $6.33 to $6.11 and FY13 from $7.15 to $6.75.
For an analyst ratings summary and ratings history on Autoliv, Inc. click here. For more ratings news on Autoliv, Inc. click here.
Shares of Autoliv, Inc. closed at $55.48 yesterday, with a 52 week range of $44.38-$69.78.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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