UPDATE: Wolfe Research Upgrades Autoliv, Inc. (ALV) to Outperform
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Wolfe Research analyst Rod Lache upgraded Autoliv, Inc. (NYSE: ALV) from Peerperform to Outperform, PT $125.00.
The analyst comments "We believe that ALV’s underlying profitability has already been much better than it appeared, as they’ve mitigated massive margin pressure from volume and commodities over the past 2-years. And we think there’s more cost self-help to come, which could lead to surprising earnings power. With help from a buyback ($1.5 bn, or 17% of outstanding shares over 3- years), we see EPS of $11.40 by 2023. At 11x, the shares could reach $125. Our other Supplier picks are: ADNT (low expectations, and turnaround potential); GT (the best pricing environment in 10-years); TEL (accelerating secular growth at a compelling valuation), and; APTV (2022 could be the year of the AV, and APTV owns a premier asset)."
Shares of Autoliv, Inc. closed at $95.53 yesterday.
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