UPDATE: Pareto Securities Downgrades Autoliv on Dull Outlook
Pareto Securities downgraded Autoliv (NYSE: ALV) from Buy to Hold.
Pareto Securities said, “Our key concerns about Autoliv are, firstly, that it has grown less than global car production for three consecutive quarters and, secondly, due to issues related to its footprint (excess production capacity in Europe and ramp-up costs in growth regions). Lastly, we believe the weak car production outlook adds to the burden. … We lower our estimates to reflect weak near-term profitability, with Autoliv expecting an 8% EBIT margin in Q1 and 9% for 2013 (adjusted for streamlining charges and a potential anti-trust penalty).”
Autoliv closed at $65.80 on Thursday.
Latest Ratings for ALV
|Oct 2014||Susquehanna||Initiates Coverage on||Neutral|
|Oct 2014||Deutsche Bank||Maintains||Hold|
|Sep 2014||Exane||Initiates Coverage on||Outperform|
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