UPDATE: Jefferies Raises PT on Autoliv Following Good 1Q13 Results

In a report published Monday, Jefferies analyst Peter Nesvold reiterated a Hold rating on Autoliv

, and raised the price target from $67.00 to $69.00. In the report, Nesvold noted, “ALV reported 1Q:13 results that beat consensus expectations on lower-than-expected operating expenses and tax rate. All considered, it was good execution in an increasingly difficult environment. However, the group still feels vulnerable to a downward revision to 2H:13 outlooks unless European auto sales bottom out in April or May.” Autoliv closed on Friday at $75.09.