UPDATE: Pareto Securities Upgrades Autoliv to Buy on Favorable Mix
Pareto Securities raised its rating on Autoliv (NYSE: ALV) from Hold to Buy.
Pareto Securities noted, "Autoliv's increased emerging market exposure, and particularly market share gains in China, makes us confident that Autoliv is set to outpace an overall muted global auto market in 2013. In addition, solid growth in active safety supports our confidence in abovemarket growth. … In view of Autoliv's solid market growth and prospects of outperforming overall market growth with sustained margins, we see clear upside in the share as it is trading at a 25% discount to its historical forward-looking EV/EBIT multiple of around 8x."
Autoliv closed at $60.72 on Wednesday.
Latest Ratings for ALV
|Jan 2015||Deutsche Bank||Maintains||Hold|
|Jan 2015||JP Morgan||Maintains||Neutral|
|Jan 2015||Credit Suisse||Initiates Coverage on||Neutral|
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