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In a report published Wednesday, Jefferies & Company reiterated its Underperform rating and $9.00 price target on American Axle & Manufacturing
AXL.
Jefferies noted, “Following IHS's forecast update on Tuesday, we are rebalancing our quarterly estimates for AXL to more closely align our model with IHS's estimated timing for Dodge Ram and T-900 production. Our full-year 2012 EPS estimate declines only modestly to $1.97 from $2.03 (vs. consensus of $1.95); the bigger change is in the distribution of EPS across the quarters.”
American Axle & Manufacturing closed on Tuesday at $10.03.
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