UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Autoliv on 1Q Autos Preview

In a report published Tuesday, Jefferies analyst Peter Nesvold reiterated a Hold rating on Autoliv ALV, and raised the price target from $63.00 to $67.00. In the report, Nesvold noted, “Earnings start to trickle in for the autos starting Tuesday, April 23. While 1Q results should be reasonably uneventful, downward pressure is building on 2H:13 estimates due to a continued slide in European sales. Coupled with a 34% expansion of EBITDA multiples over the past six months, it's getting increasingly difficult to put incremental capital to work in the group.” Autoliv closed on Monday at $67.27.