Jefferies holds Price Target of American Axle & Manufacturing (AXL)

Jefferies has published a reports holding American Axle & Manufacturing AXL with a Neutral rating on a $14 price target. On Friday morning, AXL beat consensus by 32%, most likely benefitting from a robust industry wide production mix toward trucks during the quarter. In the report, Jefferies reported that “While the magnitude of the beat forced us to consider turning more favorable on the name, we still see cheaper names with directionally less oil risk.” American Axle & Manufacturing closed Friday at $12.80.