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UPDATE: Deutsche Bank Reiterates Hold Rating, Lowers PT on Autoliv

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In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Autoliv (NYSE: ALV), but lowered its price target from $69.00 to $66.00.

Deutsche Bank noted, “Q3 in-line, but helped by pull-forward of engineering income. ALV reported 3Q12 EPS of $1.30 (ex special items), vs our forecast of $1.40. The company's Q3 operating margin of $197.2MM (10.1%) was also in-line with our forecast and guidance (i.e. a higher-than-expected tax rate fully accounted for the $0.10 underperformance to our EPS forecast). But if we adjust for the fact that $10MM of engineering income was pulled forward from Q4 to Q3, EPS would have been 7 cents lower than expected and EBIT margin would have been 9.6%.”

Autoliv closed on Tuesday at $57.07.

Latest Ratings for ALV

May 2017JefferiesUpgradesHoldBuy
Apr 2017Wells FargoUpgradesOutperform
Mar 2017RBC CapitalUpgradesUnderperformSector Perform

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings


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