Autoliv upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Autoliv (ALV) to Overweight from Equal Weight with a price target of $97, down from $110. With the firm’s recommendations shifting to a more defensive positioning, it believes Autoliv can relatively outperform the sector. The company’s passive safety portfolio of airbags and seatbelts are safety critical, and are an area where car makers are less likely to pull back on content, the analyst tells investors in a research note. Barclays says Autoliv has historically maintained strong pricing power, as evidenced in results in recent years.