American Axle, Visteon rise after UBS upgrades to 'buy', lifts PT

Shares of auto suppliers American Axle AXL.N rise nearly 6% to $5 and Visteon VC.O up 2% at $113, in premarket

UBS upgrades both cos to "buy" from 'neutral'

Lifts PT of AXL to $7 from $4.50, a premium of 58.7% from the stock's last close

Also raises Visteon PT to $142 from $85, an upside of 28.2% from the last close

UBS says reason for upgrading American Axle is due to stronger long-term prospects from General Motors GM.N full-size truck and SUV platform and new U.S. capacity additions

Also, adds proposed acquisition of Dowlais Group could add long-term value at current valuation levels for AXL

Further says upgraded VC on strong growth potential from expanding customer base, especially with names like Toyota

As of last close AXL down 24.4% YTD , but VC up 24.8% YTD