Deutsche Bank Reiterates Buy On American Axle Following Meeting With Management
In a research note published today, Deutsche Bank analyst Rod Lache reiterated a Buy rating on American Axle (NYSE:AXL) with a $21 price target, following meeting with management of American Axle at their Detroit HQ.
Lache noted, “Overall, management sounded confident in the near-term operating outlook, and increasingly focused on future strategic opportunities. The volume outlook for several key platforms (i.e. GM K2XX full-size truck, Ram Heavy-Duty, Jeep Cherokee) appears to be solid. And operational risks associated with 2014 launches are now largely behind them, which is enabling increased focus on productivity gains.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Rod Lache has a total average return of 15.9% and a 51.0% success rate. Lache has a 17.0% average return when recommending AXL, and is ranked #251 out of 3329 analysts.