Deutsche Bank Slashes Automakers and Suppliers To Sell Following Bailout Failure (F, AXL, LEA, TRW, MGA)
December 12, 2008 by Douglas A. McIntyreFollowing 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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