UPDATE: Susquehanna Financial Group Initiates Coverage on Autoliv with Neutral Rating, $99 PT on Fair Valuation

In a report published Tuesday, Susquehanna Financial Group analyst Matthew Stover initiated coverage on

with a Neutral rating and $99.00 price target. In the report, Susquehanna Financial Group noted, “Autoliv is a company in transition. At its heart this company has a culture of innovation, a very solid management team, and a rock solid balance sheet. As a result, Autoliv is the undisputed leader in passive safety. The problem is, the value and growth in the safety business is transitioning to active strategies. While the company is making important investments in these businesses and has built a nice backlog of business, its position in the segment is not nearly as decisively dominant as the passive business. Additionally, the size of these businesses is not so large that it should profoundly impact the current valuation. That leaves Autoliv, at the moment, in a period of transition. With a valuation that looks fair we would encourage investors to put this stock on their radar screen and use weakness as an opportunity to build positions.” Autoliv closed on Monday at $91.96.