Autoliv, Inc. (ALV) PT Lowered to $110 at Mizuho Securities, Following Earnings

Mizuho Securities analyst Vijay R. Rakesh lowered the price target on Autoliv, Inc. (NYSE: ALV) to $110.00 (from $115.00) while maintaining a Buy rating.

Analyst says: "We believe ALV sees future content gains driven by front center & knee airbags, and battery cut-off switches, with 2022 driven by a strong LVP uptick in higher-content regions such as N.A., and Europe potentially up 17-18% y/y. Growth in China likely returns to normal rates, with normal vehicle inventory levels and less impact from semi supply shortages. DecQ inventory at $777M was down 3% y/y and down 16% q/q. ALV noted N.A. auto dealer inventory is ~1M units, a 35yr low, which should provide tailwinds as production looks to catch-up and replenish dealer lots. ALV also noted a strong 2021 order intake win rate at ~50% (2020 ~45%) which we believe could drive passive safety market share to 45%+."

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