Autoliv price target lowered to $133 from $145 at BofA

BofA analyst Michael Jacks lowered the firm’s price target on Autoliv to $133 from $145 and keeps a Buy rating on the shares. Despite a significant Q2 miss and the firm cutting estimates, the firm still expects Autoliv to grow adjusted EBIT by 12% in FY24 and by 18% in FY25 and also still sees scope for share buybacks of $450M-$500M in the second half, equating to about 5% of the market cap, which should provide support for the shares, the analyst tells investors.