Nomura Securities Starts Axalta Coating Systems (AXTA) at Buy

Nomura Securities initiates coverage on Axalta Coating Systems (NYSE: AXTA) with a Buy rating and a price target of $33.00.

Analyst Aleksey Yefremov said, "In our view, Axalta shares offer multiyear upside due to (1) significant opportunity to improve operations and commercial practices under new ownership, (2) cost relief due to lower petrochemical-based raw materials prices and strong pricing power for AXTA’s products, (3) healthy pipeline of customer wins in Auto OEM coatings, (4) growth in previously neglected industrial coatings, (5) discount to coatings peers of ~1x EV/EBITDA."

The firm set FY15E EPS at $1.21; FY16E EPS at $1.48

For an analyst ratings summary and ratings history on Axalta Coating Systems click here. For more ratings news on Axalta Coating Systems click here.

Shares of Axalta Coating Systems closed at $26.94 yesterday.

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