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Fly News Breaks for June 27, 2019
AXL
Jun 27, 2019 | 08:39 EDT
As previously reported, Credit Suisse analyst Dan Levy initiated American Axle with an Outperform rating and $15 price target. With one of the most inexpensive valuation multiples among auto stocks, the backdrop for the stock is one of "poor sentiment," he notes. Yet, the analyst sees reasons to be positive on American Axle stock, namely a positive inflection in data points in the second half of 2019, "solid and underappreciated" free cash flow generation, and its progress in an EV world.
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