Report
Richard Hilgert

Autoliv Completes Veoneer Spin-Off; Our New FVE for the Remaining Operations Is $80 per Share

On July 2, narrow-moat Autoliv completed the spin-off of its active safety and electronics group, Veoneer. We changed our fair value estimate on the shares of Autoliv to $80 from $102 due to the spin-off. As we had previously stated, there was no impact to our previous fair value estimate for the combined entity from the planned separation of Veoneer. We had expected that most of Autoliv's fair value would be attributable to the remaining passive safety operations. Because our previous fair valu...
Underlying
Autoliv Inc.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Richard Hilgert

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