Autoliv initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Autoliv (ALV) with an Outperform rating and $133 price target Autoliv is a “rare” auto supplier with dominant market share in a category that will likely not be manufacturer outsourced due to safety-critical components and strict regulatory requirements, the analyst tells investors in a research note. Further, the firm believes the company’s content per vehicle growth should be aided by developing markets seeing improved standards of living as well as the continued premiumization of the auto fleet. RBC believes Autoliv offers “reliable growth” and a “strong moat.”