Skip to main content

Market Overview

UPDATE: Credit Suisse Initiates Coverage On American Axle & Manufacturing

Share:

In a note released Thursday morning, Credit Suisse initiated coverage on American Axle & Manufacturing (NYSE: AXL) with a Neutral rating and a $20 price target.

The team at Credit Suisse believes American Axle faces a few structural headwinds going forward, which have warranted a Neutral rating despite a strong backlog of orders.

The headwinds include limited upside in full-size pickup demand, production in Brazil and Thailand is expected to drop ~15 and ~25 percent, respectively, and EBITDA margins are expected to drop from 13.8 percent in 2014 to 13.5 percent in 2016.

Latest Ratings for AXL

DateFirmActionFromTo
Mar 2021Morgan StanleyDowngradesEqual-WeightUnderweight
Mar 2021CitigroupDowngradesBuyNeutral
Mar 2021Credit SuisseMaintainsNeutral

View More Analyst Ratings for AXL
View the Latest Analyst Ratings

 

Related Articles (AXL)

View Comments and Join the Discussion!

Posted-In: Credit SuisseAnalyst Color Price Target Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
SWNRaymond JamesDowngrades
RRCRaymond JamesDowngrades
MKTXRosenblattMaintains625.0
MERCTD SecuritiesDowngrades
STXRosenblattMaintains95.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com