Mizuho Securities analyst Vijay Rakesh raised the price target on Autoliv, Inc. (NYSE: ALV) to $94.00 (from $90.00) while maintaining a Buy rating following earnings. The analyst si looking for a better second half as LVP improves with pricing tailwinds.

The analyst commented, "ALV reported JunQ rev/EPS slightly better at $2.1B/$0.90 (cons. $2.1B/$0.32) and narrowed its C22E top-line guidance range to up 13-16% y/y (prior ~12-17% y/y), even with negative ~5% forex impact and higher costs, offset by new launches and better pricing.

We believe ALV is executing well as 2H positions it for improving auto production globally with ALV noting some OEMs are seeing improved chip supply, and also benefiting from negotiated price increases. Globally, ALV noted it still remains supply constrained with low component inventory and strong order books into 2H; we believe a macro slowdown remains a risk."