Autoliv, Inc. (ALV) PT Raised to $160 at Mizuho Securities
Mizuho Securities raised its price target on Autoliv, Inc. (NYSE: ALV) to $160.00 (from $140.00) while maintaining a Buy rating following in-line results but solid guidance.
Analyst Vijay Rakesh noted 50% airbag order growth in Passive Systems on share gains, and guided FY18 to 11% y/y topline growth (4% from currency), well ahead of global automotive SAAR growth of 2% y/y and consensus of 7% y/y.
The company noted new vision design wins and LiDAR in production in 2019, as it spins out its active safety segment, Veoneer, scheduled for 3Q18.
The analyst said ALV trends could be positive for automotive peers CY and ON.