Axalta Coating price target raised to $46 from $44 at RBC Capital

RBC Capital analyst Arun Viswanathan raised the firm’s price target on Axalta Coating (AXTA) to $46 from $44 and keeps an Outperform rating on the shares after its Q3 earnings beat. Despite some top line softness in Commercial Vehicle and Industrial, Axalta saw earnings growth from lower costs, and its Refinish business is outperforming the market and saw organic growth from business wins, pricing and the CoverFlexx acquisition, the analyst tells investors in a research note.