Associated Press - May 8, 2009 7:04 PM ET

NEW YORK (AP) - American Axle's shares soared by nearly 200% today.

The jump came after an analyst upgraded the Detroit-based auto parts supplier and called it a "survivor" that has made impressive cost savings.

Deutsche Bank analyst Rod Lache (la-SHAY') upgraded American Axle & Manufacturing Holdings Inc. to "buy" from "hold," and raised his target price on the stock to $5 from $1.

American Axle shares gained 181%, or $2.74, to $4.25 in afternoon trading. The shares have traded between 26 cents and $25 in the past 12 months.

American Axle has said a Detroit manufacturing complex will be idled. It's already closed several U.S. plants, cut 3,000 jobs in 2008 and suspended its quarterly dividend.