UBS upgraded American Axle to Neutral from Sell with an unchanged price target of $7. When the firm had previously downgraded the stock to Sell, the firm’s 2024/25 adjusted EBITDA forecasts were about 7% below consensus, but consensus 2024/25 adjusted EBITDA forecasts are now “a more reasonable” 3% or so above UBS, the analyst tells investors. The firm also believes that the market is now pricing in 2025 adjusted EBITDA of about $703M, or essentially inline with the firm’s roughly $709M forecast.
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Read More on AXL:
- American Axle price target raised to $7 from $6.50 at UBS
- 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
