KeyBanc analyst Aleksey Yefremov raised the firm’s price target on Axalta Coating to $38 from $36 and keeps an Overweight rating on the shares. The firm expects margin recovery in 2H and into 2024 as Axalta benefits from lower raw material costs flowing from inventory to sales, the analyst tells investors in a research note. KeyBanc views Axalta as one of the top picks in Chemicals owing to its end markets being in a recovery stage as well as significant price and cost catch-up throughout the year leading to significant margin recovery.
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Read More on AXTA:
- Axalta Coating price target raised to $37 from $36 at BofA
- Citi starts coverage of North America Chemicals with 7 Buys, 8 Neutrals
- Axalta Coating initiated with a Buy at Citi
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