UPDATE: Pareto Securities Downgrades Autoliv to Hold
Pareto Securities reduced its rating on Autoliv (NYSE: ALV) from Buy to Hold as it sees no upside triggers in the near term future.
Pareto Securities noted, "[We] see no imminent triggers but instead lingering uncertainty on the deterioration in Europe and its impact on Autoliv's margins (due to under-utilisation). For 2013, we assume 3% organic growth (with a 2% decline in Europe) and a minor margin improvement. Nevertheless, the valuation is clearly undemanding and offers an attractive entry-point for a value investor."
Autoliv closed at $57.07 on Tuesday.
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Tags: Pareto Securities