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Fly News Breaks for December 15, 2015
AXL
Dec 15, 2015 | 07:40 EDT
As noted earlier, RBC Capital downgraded American Axle to Sector Perform from Outperform. The firm thinks that the company lacks positive catalysts, and it believes that the company could conduct M&A. RBC believes that M&A could be "tricky to balance," given the company's high leverage and the turn in the cycle. The firm is concerned that investors may view M&A negatively. Target to $23 from $26.
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