BofA analyst John Murphy lowered the firm’s price target on American Axle (AXL) to $9 from $10 and keeps a Neutral rating on the shares given larger exposure to the Detroit Three OEMs. For General Motors (GM), Ford (F) and suppliers the firm has lowered its Q3 and Q4 estimates to account for about a six-week UAW strike.
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Read More on AXL:
- American Axle price target lowered to $8 from $9 at Barclays
- American Axle initiated with a Neutral at UBS
- Big 3 automaker strike would impact hundreds of suppliers, WXYZ Channel 7 says
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