In a report published Monday, Deutsche Bank analyst Rod Lache reiterated a Buy rating on American Axle & Manufacturing Holdings AXL, and raised the price target from $23.00 to $24.00.
In the report, Deutsche Bank noted, “Sadly, along with the strong Q2 results for American Axle on Friday we also learned of the passing of Chairman and founder Dick Dauch. Dick was an icon of American manufacturing, an inspiration to those who follow this industry, and we admired him tremendously. We have confidence in the senior leadership team that Dick Dauch has groomed, and we are gratified that they are showing clear evidence of strong performance, and driving further appreciation in his legacy. Maintain Buy.”
American Axle & Manufacturing Holdings closed on Friday at $20.94.
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