American Axle rises on upbeat Q2 results, FY EBITDA forecast raise

Dauch

09/08/2024 13:59

** Autoparts maker American Axle and Manufacturing's  AXL.N 
shares rise ~9% to $7 in premarket trading
    ** AXL posts Q2 adj. EPS of $0.19/shr, beating analysts'
average estimate of $0.11/shr - LSEG data
    ** Co raises FY adj. EBITDA forecast to $705 - $755 mln vs
prior view of $685 - $750 mln 
    ** 2 of 9 brokerages rate AXL stock "buy" or higher, 6
"hold" and 1 "sell" or lower; their median PT is $8 - LSEG data
    ** YTD, AXL down ~29%

 (Reporting by Anshuman  Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com;))