Autoliv upgraded to Outperform at Wolfe Research following pullback

As previously reported, Wolfe Research analyst Shreyas Patil upgraded Autoliv to Outperform from Peer Perform with a $133 price target. When the firm had previously downgraded share in early January 2024, its primary concern was that valuation already reflected a constructive view of fundamentals and the company’s earnings power, but with the stock having pulled back about 18% from highs in late-May due to cyclical concerns about the near-term outlook, Wolfe now sees a more attractive re-entry point, the analyst tells investors.