American Axle price target raised to $8 from $7 at Deutsche Bank

Deutsche Bank raised the firm’s price target on American Axle to $8 from $7 and keeps a Hold rating on the shares. The firm expects the U.S. auto group to report generally in-line Q4 reports but continues to see “broad downside risk” to the sector’s 2024 outlooks. The target change is part of the firm’s 2024 guidance preview.