Evercore ISI Adds Autoliv, Inc. (ALV) to TAP List

Evercore ISI analyst Chris McNally reiterated an Outperform rating and $110.00 price target on Autoliv, Inc. (NYSE: ALV).

• "Adding to Tactical Outperform List Ahead of June 12th Analyst Day"

The analyst comments "Autoliv (ALV) will be hosting an in-person Investor Day at their Auburn Hills, MI Tech Center on Monday, June 12th, an event we believe could serve as a positive catalyst despite the Auto sector’s “Anti-Seasonal” period from May – Sept. We believe Autoliv (ALV) could see a +8-10% move in the near-term back to the low $90’s (Q1 trading range of $77-93) into & after the event as Scandinavian Long-Only (and broker) sentiment turns materially positive (never underestimate the Scandi industrial investors’ impact for ALV alpha). We expect management to sound confident on ~12/13% margins for FY24/25 which would imply EPS ~15%+ above current consensus for FY24/25. The 12% operating margin represents ALV’s long-discussed margin goal for when ~89MM global production is achieved, which should be FY24. Q2 margins in the 8%+ range will also bolster investors confidence on the upper end of the 8.5-9% FY target after Q1’s 5.3%. The ALV 2H margin progression of 9-10% Q3 & 12-13% margins Q4 will also validate a 12% 2024."

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 $84.88 yesterday.

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