Autoliv (Buy, TP: SEK1140.00) - On the path to some good years
Autoliv is set to more than double EBIT from 2021e to 2024e as it continues to outperform a market that is on the path to recovering as supply chains normalise. The combination of buybacks and dividends makes it one of the sector’s best-screening stocks from a cash-return perspective over the next three years. We reiterate our BUY and have raised our target price to SEK1,140 (1,080).
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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