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UPDATE: Credit Suisse Initiates Coverage On American Axle & Manufacturing


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

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

View More Analyst Ratings for AXL
View the Latest Analyst Ratings


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

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