Jefferies Raises Price Target On American Axle (AXL) to $10

February 6, 2012 7:27 AM EST
Get Alerts AXL Hot Sheet
Price: $20.31 -1.84%

Rating Summary:
    4 Buy, 8 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 10
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Jefferies raised its price target on Underperform-rated American Axle (NYSE: AXL) from $9 to $10 following Q4 results.

The firm comments, "AXL traded up 2.8% in a strong tape after posting 4Q EPS roughly 8% above consensus (inline with JEFe) on strong margins. AXL shares have powered higher since our downgrade, which we attribute to a continued market rally out of newsflow around the Fed and unemployment. Our call remains to trim positions in last year's winners and redeploy proceeds into last year's laggards."

For an analyst ratings summary and ratings history on American Axle click here. For more ratings news on American Axle click here.

Shares of American Axle closed at $12.68 yesterday.

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