BofA lowered the firm’s price target on Autoliv to $134 from $137 and keeps a Buy rating on the shares. It is “clear that the ‘value over volume’ approach adopted by western OEMs post-pandemic is being severely tested” following a slew of warnings by European OEMs and deteriorating retail sales data, the analyst tells investors. The firm accordingly trimmed estimates to reflect weaker volumes near-term, noting that for Autoliv it has cut its adjusted EBIT forecasts by 3.3%, 3.0% and 3.0%, respectively, in FY24-FY26.
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