UPDATE: Deutsche Bank Reiterates on American Axle & Manufacturing on Positive Growth Outlook
In a report published Friday, Deutsche Bank analyst Rod Lacher reiterated a Buy rating on American Axle & Manufacturing (NYSE: AXL), and raised the price target from $23.00 to $27.00.
In the report, Deutsche Bank noted, “We believe that our expectations for modest growth in North America and Europe are well supported; they may ultimately prove conservative. Europe has been, and is expected to remain below trend, suggesting that the market is building pent up demand. And in North America, the Street may be underestimating a number of phenomena that could serve to boost volumes, including a dramatic increase in the number of lease terminations (which typically lead to new vehicle sales/leases).”
American Axle & Manufacturing closed on Thursday at $19.16.
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