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UPDATE: Jefferies Reiterates Hold Rating, Raises PT on American Axle & Manufacturing Holdings After Higher-Than-Expected Close

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In a report published Monday, Jefferies reiterated its Hold rating on American Axle & Manufacturing Holdings (NYSE: AXL), and raised its price target from $9.00 to $13.00.

Jefferies noted, “AXL shares closed up 3.3% on Friday (vs. the S&P 500 up 0.5%) after modestly missing 4Q consensus and guidance. We previously argued that AXL's operational issues would likely take several quarters to work through. While it continues to look like it's getting worse before it gets better, investors appear willing to look past these issues as short-term in nature.”

American Axle & Manufacturing Holdings closed on Friday at $12.24.

Latest Ratings for AXL

DateFirmActionFromTo
Dec 2014CitigroupMaintainsBuy
Nov 2014FBR CapitalInitiates Coverage onMarket Perform
Nov 2014JP MorganMaintainsNeutral

View More Analyst Ratings for AXL
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

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