Citi analyst Itay Michaeli upgraded American Axle to Buy from Neutral with an unchanged price target of $20. The analyst sees an improved risk/reward profile following the recent pullback in the shares. Strengthening EBITDA margins throughout the year and additional new business opportunities in key areas like electric vehicles provide potential catalysts over the next 12 months, Michaeli tells investors in a research note. The analyst is not making a call on the quarter, but rather a call that "sentiment could stand to improve significantly" post the Q1 report.