American Axle (AXL) Bullish 2H13 Thesis Not Working for One Analyst
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Price: $7.36 -0.27%
Rating Summary:
5 Buy, 10 Hold, 3 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
5 Buy, 10 Hold, 3 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Analysts Peter Nesvold of Jefferies thinks American Axle & Manufacturing (NYSE: AXL) shares will "continue to work" as long as investors search for weak stocks that have potential to show improvements in the second half of 2013. However, he thinks visibility at American Axle is low and a recovery in margin is difficult to time.
"Yes, we agree that housing, pick-ups, and GM's product cadence should all improve as 2013 progresses. But if that's one's thesis, it would just seem easier to buy GM (NYSE: GM) instead for these catalysts, particularly given the added benefits of the U.S. Treasury selldown and nascent restructuring plan in Europe," said Nesvold.
Jefferies has a Hold rating on American Axle with a modified price target of $13.00 (from $9.00).
For an analyst ratings summary and ratings history on American Axle (NYSE: AXL) click here. For more ratings news on American Axle click here.
Shares of American Axle closed at $12.24 yesterday.
"Yes, we agree that housing, pick-ups, and GM's product cadence should all improve as 2013 progresses. But if that's one's thesis, it would just seem easier to buy GM (NYSE: GM) instead for these catalysts, particularly given the added benefits of the U.S. Treasury selldown and nascent restructuring plan in Europe," said Nesvold.
Jefferies has a Hold rating on American Axle with a modified price target of $13.00 (from $9.00).
For an analyst ratings summary and ratings history on American Axle (NYSE: AXL) click here. For more ratings news on American Axle click here.
Shares of American Axle closed at $12.24 yesterday.
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