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Barclays recent underweight rating on 5/10 with a $7 dollar price target.
Morgan Stanley (Adam Jonas) downgrade to underweight on 3/30 with an $8. dollar price target.
AXL is a primary supplier to GM, and we should expect that GM will award new component business related to EV, no matter what Adam Jonas thinks!
lower priced spot orders, all of very low volume, As if a market maker has two accounts, one for selling and one for buying.
This is a long term call. In the meantime, AXL is poised to have a multiyear run with substantial profits to be reinvested in the EV transition. Large pickup and SUVs if they go EV, would have 2000lbs. of added battery weight, and will still require heavy duty driveline components, to be reconfigured for EV versions.
I still remember how wrong Adam Jonas was with his 10 year negative call on GM. He discounted the many positive EV and otherwise developments at GM, over the last 10 years, as he focused on Tesla.
It was a long term call based upon his long term view.
More recently, Adam is now very positive on GM.