Bull of the Day: Autoliv (ALV)

Autoliv (ALV) maintains a stable market share globally, supported by the increasing importance of vehicle safety needs. Furthermore, the company aims to tap huge market potential by expanding into low-cost countries.

The company’s balance sheet is solid with low debt and healthy cash flow. In the most recent quarter, the company’s profit significantly improved from the year-ago level, and far exceeded the Zacks Consensus Estimate by $0.37 per share.

We have, therefore, upgraded the recommendation on shares from Neutral to Outperform and set a target price of $69. This amounts to a P/E ratio of 12.3X our 2010 EPS estimate.

AUTOLIV INC (ALV): Free Stock Analysis Report

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