Solid Year for Autoliv, Long-Term Potential Intact; Maintaining $95 Fair Value Estimate
Narrow moat-rated Autoliv, a leading safety components supplier to the global automotive industry, reported full-year 2016 earnings per share, or EPS, before special items of $6.75--equal to the consensus, $0.04 better than our EPS estimate, and $0.10 higher than the year-ago result. Even so, the stock sold off nearly 9% as management guidance for 2017 organic growth would be 4%, below market expectations of 7%. Management also guided to 30 basis points lower EBIT margin relative to full-year 20...
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