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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: cubsfan who wrote (5444)	5/8/2009 2:03:37 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

Look: finance.yahoo.com NEW YORK (AP) -- American Axle's shares soared by nearly 200 percent Friday after an analyst upgraded the auto parts supplier and called it a "survivor" that has impressed with its cost savings. Deutsche Bank analyst Rod Lache said Detroit-based American Axle & Manufacturing Holdings Inc. "will be a survivor amidst the wreckage of U.S. auto makers and many parts suppliers." He upgraded American Axle to "buy" from "hold" and raised his target price on the stock to $5 from $1. American Axle shares gained 181 percent, or $2.74, to $4.25 in afternoon trading. The shares have traded between 26 cents and $25 in the past 12 months. Lache said that due to the company's cost savings initatives, it can reduce its break-even point to a U.S. sales rate of 9.5 million to 10 million vehicles. American Axle has said a Detroit manufacturing complex will be idled, closed several U.S. plants, cut 3,000 jobs in 2008 and suspended its quarterly dividend. The auto industry is currently on pace to sell fewer than 10 million cars in the U.S. this year.