Autoliv (Buy, TP: SEK895.00) - A top pick for Q3 and beyond
We have made minor adjustments to our estimates ahead of the Q3 results (due 23 October) where we now are 35% above consensus on adjusted EBIT. With the automotive industry having recovered faster and stronger than previously expected, we believe consensus underestimates these positive effects which should last into 2021e. We reiterate our BUY, and have raised our target price to SEK895 (870).
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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