** Stifel initiates coverage of auto supplier American Axle & Manufacturing AXL.N with "hold" rating; sets PT at $6
** Brokerage says AXL's management is looking to generate $300 million of cost synergies from the Dowlais Group deal
** "Longer term, the company faces secular headwinds from the decline of ICE powered vehicles that need to be replaced with other revenue sources" - Stifel
** Two of nine brokerages rate the stock "buy", six "hold" and one "sell"; their median PT is $6 - LSEG data
** As of last close, stock was down ~3.8% YTD
(Reporting by Prakhar Srivastava in Bengaluru)
((Prakhar.srivastava2@thomsonreuters.com))