Wolfe Research assumed coverage of Autoliv with an Outperform rating, Top Pick designation, and $120 price target. The company is fairly insulated from competitive pressures, can grow earnings through deep cost actions, and returns over 100% of free cash flow to shareholders, the analyst tells investors in a research note. Autoliv’s cost reduction initiatives, including $50M tied to indirect headcount reductions, are already in progress and are expected to contribute $75M in net performance improvements in 2024, the firm added.
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