Autoliv Posts Mixed Results on Weaker Growth, Higher Development Costs; $100 FVE Unchanged
Narrow-moat-rated Autoliv, a leading supplier of safety components as well as advanced driver-assist systems to the global automotive industry, reported adjusted earnings per share before special items of $1.44, a penny shy of the consensus estimate of $1.45 but $0.31 below the year-ago result of $1.75. After the mixed results report, Autoliv's stock sold off by 8%. However, the shares remain 3-star-rated, still trading a slight 6% premium to our $100 fair value estimate. In our opinion, Autoliv...
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