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.
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Read More on AXL:
- American Axle price target lowered to $5.50 from $7 at BofA
- American Axle price target lowered to $8 from $10 at Morgan Stanley
- American Axle Secures Financing for Dowlais Acquisition
- American Axle price target lowered to $6 from $6.50 at UBS
- American Axle’s Earnings Call: Mixed Sentiments and Strategic Growth
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