This Analyst is Bullish on 4 Auto Stocks for the Rest of 2022

2. Autoliv, Inc. (NYSE:ALV)

Number of Hedge Fund Holders: 35

Autoliv, Inc. (NYSE:ALV) is a Stockholm, Sweden-based provider of safety supplies to the automotive industry. The company has a presence in over 27 countries.

On July 25, Michaeli increased the price target on Autoliv, Inc. (NYSE:ALV) by 18.67%, or $14 to $89, after the company posted strong Q2 2022 results. The analyst maintained a Neutral rating on Autoliv, Inc. (NYSE:ALV) stock. He sees a positive trajectory for the margins as the management’s commentary on cost recoveries was upbeat.

The Q2 2022 results reflected the ability of Autoliv, Inc. (NYSE:ALV) to combat inflation as the company reported a significant EPS beat after raising its prices in June. Autoliv, Inc. (NYSE:ALV) reported an adjusted EPS of 90 cents that outperformed the analysts’ forecast of 36 cents by a significant margin. Revenue increased by 3% YoY to $2.08 billion, beating the analysts’ expectation of $2.04 billion.

Beddow Capital Management increased its stake in Autoliv, Inc. (NYSE:ALV) by 5% during the second quarter of the year.