RBC Capital lowered the firm’s price target on Axalta Coating (AXTA) to $45 from $46 and keeps an Outperform rating on the shares as part of a broader research note previewing Q4 results for Coatings names. The firm expects “relatively in line” performance for Q4, though the winter weather and adverse FX are seen as slight earnings headwinds in Q1, and looking out to FY25, RBC is also lowering its estimates on expected lower auto builds and fewer rate cuts that could dampen and push out an overall demand recovery, the analyst tells investors in a research note.
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Read More on AXTA:
- Axalta Coating price target lowered to $41 from $43 at Mizuho
- Axalta Coating price target lowered to $42 from $44 at Deutsche Bank
- Axalta Coating downgraded to Neutral from Buy at Citi
- Axalta Coating transferred with an Outperform at Evercore ISI
- Axalta downgraded to Sector Weight from Overweight at KeyBanc (earlier)