Morgan Stanley analyst Andrew Percoco downgraded American Axle (AXL) to Equal Weight from Overweight with a price target of $7, down from $8, following a change in analysts. The firm adjusted ratings in the autos and shared mobility group as part of its 2026 outlook. Morgan Stanley is “leaning more cautious” into next year, saying the electric vehicle “winter” will sustain through 2026. This is counterbalanced by a “moderately more positive” outlook on internal combustion engines and hybrids, the analyst tells investors in a research note.
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