Evercore ISI took over coverage of Axalta Coating (AXTA) with an Outperform rating and $47 price target as well as 10 other chemical names. Dissonance between sputtering industrial demand into year-end and prospects for a “less bad” 2025 has “muddled the forward outlook for chemicals investors” and the firm’s sense is further EBITDA and EPS cuts coming to Q1 and FY25 “are needed to clear the deck,” the analyst says. However, Evercore suspects the stocks “move sharply higher with signs of improving demand, so begin to position accordingly,” the analyst added.
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Read More on AXTA:
- Axalta downgraded to Sector Weight from Overweight at KeyBanc (earlier)
- BMO Says the S&P 500 Could Hit 6,700 in 2025 — Here Are 2 Stocks to Bet on It
- Axalta Coating price target raised to $48 from $46 at BMO Capital
- Axalta Coating initiated with an Outperform at Evercore ISI
- Axalta Coating price target raised to $50 from $44 at Seaport Research