Autoliv Inc., a leading automotive safety systems company, saw its stock plunge 5.14% in pre-market trading on Monday. This sharp decline appears to be linked to Berenberg lowering its price target on the company's shares.
In a recent report, Berenberg analysts reduced their price target for Autoliv from $125 to $122, while maintaining a "Buy" rating on the stock. The analysts cited updated estimates for the company's margins as the primary reason behind the price target revision.
Despite the price target cut, some analysts remain bullish on Autoliv's prospects. Evercore ISI's Chris McNally reiterated a "Buy" rating on the stock on January 31st, suggesting that the company's long-term growth prospects remain intact.
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