UBS raised the firm’s price target on American Axle to $7 from $6.50 and keeps a Sell rating on the shares. UBS continues to believe American Axle’s EBITDA is at a local peak over the coming years and believes that a multiple below current levels is more appropriate given peak concerns, the analyst tells investors in a research note.
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Read More on AXL:
- American Axle: Overview of Recent Financial Performance
- American Axle estimates 2024-2026 new business backlog about $600M
- AAM Reports Fourth Quarter and Full Year 2023 Financial Results
- American Axle sees FY24 revenue $6.05B-$6.35B, consensus $6.17B
- American Axle reports Q4 adjusted EPS (9c), consensus (19c)
