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☆ This maker of seatbelts and airbags is a 'growth safe haven story,' says UBS in upgrade
▼ + stars: | 2024-05-28 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Strong margins, revenue growth and insulation from automotive market headwinds have UBS labeling Sweden's Autoliv as a "growth safe haven story." Autoliv is isolated from short-term industry concerns, such as electric vehicle penetration, "intense capital allocation or China underexposure," UBS analyst Juan Perez-Carrascosa wrote on Tuesday. UBS upgraded Autoliv, a maker of seatbelts, airbags and steering wheels, to buy from neutral and raised its price target by 38% to $141 from $102, which was far below Friday's close at $125.73. The new target implies further upside of 12% for Autoliv, which is up 17% in 2024 after soaring 44% in 2023. ALV YTD mountain Autoliv stock has climbed more than 14% in 2024.

Persons: Sweden's, Juan Perez, Carrascosa, Perez Organizations: UBS Locations: China

☆ Dan Loeb's Third Point bet big on Amazon and Nvidia in the second quarter, but his fund still lagged
▼ + stars: | 2023-08-14 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Dan Loeb's Third Point added new positions in key artificial intelligence beneficiaries in the second quarter, but still underperformed the broader market. As of June 30, he had a position in Amazon worth about $535 million that made the online retailer and web services provider the third-largest position in his fund. He also bought shares of Nvidia , adding up to a position worth about $212 million. Third Point was higher by just 1.1% in the second quarter, paring its loss in 2023 to 3% so far. Meanwhile, the S & P 500 was ahead 8% in the second quarter, and is higher by 16% on the year.

Persons: Dan Loeb's, Tepper, Loeb, underexposure, Tesla —, —, Yun Li Organizations: SEC, Taiwan Semiconductor, Nvidia, Microsoft, Activision, Care, Meta, AMD, Google Locations: U.S

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