Autoliv price target lowered by $1 at BofA, here’s why

BofA lowered the firm’s price target on Autoliv to $126 from $127 and keeps a Buy rating on the shares. Autoliv remains one of the firm’s preferred automotive supplier exposures and the firm sees 200 basis points of margin expansion ahead in 2024. However, the firm “slightly” trimmed its adjusted EBIT and EPS forecasts for FY24-25 by 2%-5%, reflecting a more conservative LVP outlook.