Deutsche Bank resumed coverage of American Axle with a Hold rating and $6 price target. The transition to EV across the industry has seen some glide path changes and current ICE platforms will run longer than expected, which “may potentially work out positively for AAM,” but the company had provided a three-year gross backlog update from 2024 to 2026 of $600M, which is down from $725M provided for 2023-2025, the analyst tells investors.
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