Evercore ISI initiated coverage of Axalta Coating (AXTA) with an Outperform rating and $47 price target Axalta struggled to find its way over the years preceding the pandemic, but management change and the self-improvement initiatives swiftly implemented have “injected momentum both commercially and in the stock.” Better stock performance “obscures that the multiple has not expanded alongside improved fundamentals and a lower volatility go-forward,” the analyst added.
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