Autoliv's Cost Reduction Plan To Garner $25M In Savings In FY24 Amid Stronger Pricing, Analyst Says
Portfolio Pulse from Nabaparna Bhattacharya
Mizuho analyst Jason Getz reiterated a Buy rating on Autoliv, Inc. (NYSE:ALV), raising the price target to $106 from $96. Autoliv reported Q2 FY23 sales growth of 27% YoY to $2.63 billion, beating the analyst consensus. The company benefited from stronger pricing and new product launches. Autoliv's cost reduction plans are expected to save $25 million in 2024, rising to $55 million in 2025 and $75 million by completion. However, ALV shares are trading lower by 0.89% to $101.87.
July 24, 2023 | 6:55 pm
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POSITIVE IMPACT
Autoliv's Q2 FY23 sales beat analyst consensus, and the company is expected to save $25 million in 2024 due to cost reduction plans. However, ALV shares are trading lower.
Autoliv's strong Q2 FY23 sales and cost reduction plans are positive indicators for the company's financial health, which could attract investors. However, the current lower trading of ALV shares indicates market volatility or other factors not directly related to the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100