Autoliv, Inc. (ALV) PT Raised to $104 at Mizuho Securities Following EPS
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Mizuho Securities analyst Vijay Rakesh raised the price target on Autoliv, Inc. (NYSE: ALV) to $104.00 (from $102.00) while maintaining a Buy rating.
The analyst commented, "ALV reported solid DecQ with rev/EPS of $2.5B/$2.19 (consensus $2.4B/$1.94). The company guided FY21E revenue to up 25% y/y with organic sales up 20% and outpacing 2021E LVP of up ~14% y/y, while also raising its medium-term growth target to LVP+4-5% vs. prior 3-4%. In the DecQ, revenue was up 15% y/y, ~13ppt better than LVP (up 2%). We see an improving 2021, with LVP up 14% y/y, strong 45% order wins driving market share, and a better mid-term outlook outgrowing LVP at 4-5%. Reiterating our Buy, raising estimates and PT to $104 ($102 prior) - we continue to see strong LVP tailwinds with a front-loaded 2021 for the Semis supply chain."
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