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Autoliv, Inc. (ALV)
Difficult conditions in North American and West European automotive markets are the primary concerns for Autoliv Inc. (ALV - Analyst Report). The company reported net losses in the first quarter of 2009.
In the second quarter of 2009, Autoliv expects consolidated sales to decline in the range of 40%-45%, with organic sales declining more than 30%. Operating margin for the second quarter of 2009 is expected to be negative by less than 3%, excluding restructuring costs and major customer defaults.
Moreover, pricing pressure from OEMs has stalled margin expansion. Hence, we rate the stock a Sell with a target price of $16.50.
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| Market Summary | Nov 26, 2009 05:35 am ET |
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