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Actionable news in AXL: AMERICAN AXLE & MANUFACTURING HOLDINGS Inc,

American Axle & Manufacturing (AXL) Stock Downgraded at RBC Capital Markets

NEW YORK (TheStreet) -- RBC Capital Markets downgraded American Axle & Manufacturing Holdings (AXL) stock to 'sector perform' from 'outperform' on Tuesday and lowered its price target to $23 from $26.

The firm said near-term business still looks strong, but they fail to see a positive catalyst.

"AXL can create equity value by delevering, but we get the sense management is debating that strategy with M&A. We have concern about how the latter would be received," RBC said in an analyst note.

The Detroit-based company is an automotive supplier that manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules.

Shares of American Axle & Manufacturing are down by 1.11% to $20.56 in afternoon trading on Tuesday.

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Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has...


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