07:10 AM EDT, 04/26/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target by $20 to $150, based on a '25 P/E of 12.5x, a discount to ALV's 5-year forward P/E of 16.8x. We increase our adjusted EPS estimates to $10.00 from $9.90 for '24 and to $12.00 from $11.80 for '25. ALV posts Q1 adjusted EPS of $1.58 vs. $0.90 (+76%), well ahead of the $1.40 consensus. The beat was driven by stronger-than-expected sales and margins, as net sales rose 5% to $2.62B ($60M ahead of consensus) and adjusted operating margin expanded 230 bps to 7.6%. ALV reiterated prior 2024 guidance for organic sales growth of around 5% and adjusted operating margins of 10.5%. We think ALV's organic growth forecast could prove conservative. We hike our price target and reiterate our Buy on ALV, as the company screens as one of the best-positioned auto suppliers. We like the company's strong balance sheet/leverage ratios (1.3x net debt/EBITDA) and cash returns to shareholders, noting $160M of buybacks in Q1 2024, an increase from its pace of share repurchases which totaled $352M in 2023.