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Deutsche Bank Slashes Automakers and Suppliers To Sell Following Bailout Failure (F, AXL, LEA, TRW, MGA)
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Following the failure of the auto bailout in the Senate, Deutsche Bank is downgrading a number of auto makers and auto supply makers to Sell, calling it an "End of an Era." Downgraded to Sell were: Ford (F), American Axle (AXL), Lear Corp. (LEA), TRW Automotive Holdings Corp. (TRW) and Magna International, Inc. (MGA).
Deutsche Bank said, while there may be a reprieve from the Bush administration using TARP, an increasingly difficult operating environment will likely force leveraged automaker and supplier stocks to near bankruptcy levels."
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