RBC Capital analyst Joseph Spak lowered his price target on Autoliv to $127, saying the latest round of earnings shows more profitability pressure in what is the company's last "pre-Veoneer spin" reported period. Specifically, the analyst notes organic sales growth of only 0.1% and operating margins of 8.8% relative to expected "below 1%" and around 9% respectively. Spak keeps his Sector Perform rating on Autoliv while also anticipating higher than expected commodity headwinds, anticipating another update from the two respective companies post-spin.