tiprankstipranks
The Fly

American Axle initiated with a Hold at TD Cowen

American Axle initiated with a Hold at TD Cowen

TD Cowen initiated coverage of American Axle (AXL) with a Hold rating and $5 price target The company’s long-term risk/reward “tilts favorably: and the proposed Dowlais transaction is logical, the analyst tells investors in a research note. However, the firm says American Axle’s mixed supplier acquisition track record and high financial leverage will likely keep the stock rangebound until next year.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Questions or Comments about the article? Write to editor@tipranks.com