Wells Fargo analyst Michael Sison raised the price target on Axalta Coating to $29 from $23 and keeps an Equal Weight rating on the shares. While Axalta’s results and EBITDA outlook fared better than its coatings peers, the firm stays on the sidelines given the stock is trading at the upper end of its 7-year EV/EBITDA range of 9-12-times. Wells awaits a catalyst to drive further multiple expansion.
Published first on TheFly
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Read More on AXTA:
- Axalta Coating upgraded to Buy from Hold at Deutsche Bank
- Axalta Coating upgraded to Buy from Neutral at Citi
- Axalta Coating price target raised to $35 from $30 at Baird
- Axalta Coating price target raised to $31 from $30 at Mizuho
- Axalta Coating sees Q1 adjusted EPS 26c-33c, consensus 33c
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