Jefferies Upgrades American Axle (AXL) to Hold; Bearish Thesis Played Out

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Jefferies upgraded American Axle (NYSE: AXL) from Underperform to Hold with a price target of $9.00.

The firm comments, "Our fundamental views appear to have largely played out; the stock's underperformed the S&P by 20.5%; and sentiment now seems crowded negative. As such, a more neutral stance seems prudent."

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 $9.82 yesterday, with a 52 week range of $7.50-$13.08.

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