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VNE

Veoneer

$45.51

-0.4 (-0.87%)

, ALV

Autoliv

$80.53

0.59 (0.74%)

08:46
10/12/18
10/12
08:46
10/12/18
08:46

Evercore ISI downgrades Veoneer to Underperform ahead of 'ugly' earnings season

As previously reported, Evercore ISI analyst Chris McNally downgraded Veoneer (VNE) to Underperform from In Line, stating that he is expecting the "ugliest reporting season since '15" coming up for the automotive sector. He predicts over 80% of suppliers are likely to further reduce their fiscal year EPS estimates by 2-4% on average and he advises waiting for the majority of the supplier cuts before "wading back into the group." While he keeps a $35 price target on Veoneer shares, McNally lowered his price target on Autoliv (ALV) to $90 from $110 and keeps an In-Line rating on the latter's shares.

VNE

Veoneer

$45.51

-0.4 (-0.87%)

ALV

Autoliv

$80.53

0.59 (0.74%)

  • 29

    Oct

VNE Veoneer
$45.51

-0.4 (-0.87%)

10/02/18
UBSW
10/02/18
DOWNGRADE
Target $44
UBSW
Sell
Veoneer downgraded to Sell at UBS on valuation, risk-reward
UBS analyst David Lesne downgraded Veoneer to Sell from Neutral with a $44 price target, citing high valuation and "unattractive" risk-reward. In a research note to investors, Lesne says with shares up since the spinoff, he believes it is already pricing in a potential raise of the 2020 targets and "overly optimistic" sales and profitability outlooks in the long run. He thinks this is "unjustified" due to lack of evidence that organic sales growth is at a turning point in the near-term, adding that Veoneer is "unlikely" to become a leader in Autonomous Vehicles given competition from tech players and risk of OEM software insourcing and hardware commoditization. In the medium-term, Lesne does not see higher sales translating into improved profitability.
10/02/18
WOLF
10/02/18
INITIATION
Target $42
WOLF
Underperform
Veoneer initiated with an Underperform at Wolfe Research
Wolfe Research initiated Veoneer with an Underperform Perform and $42 price target.
10/08/18
MACQ
10/08/18
INITIATION
Target $53
MACQ
Neutral
Veoneer initiated with a Neutral at Macquarie
Price target $53.
10/12/18
EVER
10/12/18
DOWNGRADE
EVER
Underperform
Veoneer downgraded to Underperform from In Line at Evercore ISI
ALV Autoliv
$80.53

0.59 (0.74%)

07/30/18
MZHO
07/30/18
NO CHANGE
Target $115
MZHO
Buy
Autoliv well positioned for continued share gains, says Mizuho
Mizuho analyst Vijay Rakesh believes that post the Veoneer (VNE) spinoff, Autoliv (ALV) is well positioned to gain market share in Passive Safety from Takata's issues and will benefit from better operating leverage. He lowered his price target for the shares to $115 from $160 and reiterates a Buy rating on the name.
10/01/18
BARD
10/01/18
DOWNGRADE
BARD
Neutral
Autoliv downgraded to Neutral from Outperform at Baird
10/01/18
BARD
10/01/18
DOWNGRADE
BARD
Neutral
Autoliv, TE Connectivity, Methode Electronics downgraded to Neutral at Baird
Baird analyst David Leiker downgraded Autoliv (ALV), Methode Electronics (MEI) and TE Connectivity (TEL) to Neutral from Outperform and lowered his respective price targets to $90 from $120, $39 from $47 and $93 from $105, telling investors in a research note that risk/reward is seen in balance. In a research note on the global automotive sector to investors, Leiker says that while the magnitude of BMW's (BMWYY) recent update equals other adjustments already made, stocks are reacting poorly and current downtrend suggests valuation disconnect will likely persist until greater clarify on 2019 is offered. Top names remain Aptiv (APTV), Lear (LEA) and Visteon (VC), while BorgWarner (BWA), Delphi (DLPH) and Littelfuse (LFUS) remain Outperform-rated.
10/02/18
WOLF
10/02/18
INITIATION
Target $95
WOLF
Underperform
Autoliv initiated with an Underperform at Wolfe Research
Wolfe Research initiated Autoliv with an Underperform and $95 price target.

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UQM

UQM Technologies

$1.10

0.05 (4.76%)

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SNY

Sanofi

$41.50

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RTN

Raytheon

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IBCP

Independent Bank

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EDIT

Editas Medicine

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GOOG

Alphabet

$1,098.25

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LAD

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CYDY

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SFUN

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TS

Tenaris

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PAAS

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AL

Air Lease

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