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UBS Cuts Price Target on Axiall Corp. (AXLL) as Market Challenges Continue

July 2, 2015 8:59 AM EDT
Get Alerts AXLL Hot Sheet
Price: $33.00 --0%

Rating Summary:
    4 Buy, 4 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 36
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UBS reiterates a Neutral rating on Axiall Corporation (NYSE: AXLL), and cuts the price target to $38.00 (from $41.00), as challenging market conditions continue. Analyst John Roberts is reducing 2Q EPS estimates to $0.23 from $0.29, and believes prospects for higher margins and prices are uncertain.

Roberts commented, "We're reducing 2Q/3Q EPS to $0.23/$0.52 from $0.29/$0.66 and 2015E/2016E EPS to $0.78/$2.80 from $1.15/$3.05. Our 2015E/2016E EBITDA are reduced to $409M/$600M from $445M/$623M. The PVC market and caustic soda markets remain challenged and we believe prospects for higher margins/prices in the near and medium terms are uncertain. AXLL recently announced a new expense-reduction program that should result in a run rate of $100Mm, or nearly $1/share, in savings by end of 2016."

For an analyst ratings summary and ratings history on Axiall Corporation click here. For more ratings news on Axiall Corporation click here.

Shares of Axiall Corporation closed at $35.47 yesterday.



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