Autoliv price target raised to $128 from $126 at BofA

BofA raised the firm’s price target on Autoliv to $128 from $126 and keeps a Buy rating on the shares after Autoliv “ended ’23 on a strong note,” beating expectations for EBIT, free cash flow and EPS in Q4. Guidance implies year-over-year EBIT growth of 26%, which the analyst notes is slightly below the firm’s and the consensus forecast, but lower net debt cost and a lower tax rate “more than offset at an EPS level,” adds the firm, which sees the 2024 outlook and beyond being supported by “robust orders.”