Autoliv Gets Price Target Cuts By Analysts After Q1 Results

Autoliv, Inc. ALV reported mixed Q1 financial results and issued guidance.

Autoliv reported first-quarter FY23 sales growth of 17% year-on-year to $2.49 billion, beating the consensus of $2.31 billion. Adjusted earnings per share doubled Y/Y to $0.90, missing the estimate of $0.92.

Autoliv sees FY23 organic sales growth of around 15%.

Autoliv shares fell 5.3% to close at $87.09 on Friday, and lost 0.9% in today’s pre-market trading session.

These analysts made changes to their price targets on Autoliv following earnings announcement.

• Barclays cut the price target on Autoliv from $100 to $95. Barclays analyst Dan Levy maintained an Equal-Weight rating.
• Goldman Sachs slashed the price target on Autoliv from $ $114 to $113. Goldman Sachs analyst Philipp Konig maintained a Buy rating
• Citigroup reduced the price target on Autoliv from $97 to $93. Citigroup analyst Itay Michaeli maintained a Neutral rating on the stock.
• Baird cut the Autoliv price target from $101 to $99. Baird analyst Luke Junk maintained a Neutral rating on the stock.
• Wells Fargo slashed Autoliv price target from $94 to $93. Wells Fargo analyst Colin Langan maintained the stock with an Equal-Weight rating.
• Deutsche Bank cut the price target for Autoliv from $113 to $110. Deutsche Bank analyst Emmanuel Rosner maintained a Buy rating. 

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