Axalta Coating Systems (AXTA) PT Raised to $37 at Berenberg
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Berenberg analyst Paretosh Misra raised the price target on Axalta Coating Systems (NYSE: AXTA) to $37.00 (from $33.00) while maintaining a Buy rating.
The analyst commented, "Raising price target to $37. AXTA delivered a 19% adjusted EPS beat, and the midpoint of 2021 guidance is 7% above consensus. Following the Q1 update, we raise our estimates through 2023E. We raise our price target to $37 (from $33) on higher estimates and valuation multiple. Our $50 bull case is based on our SOTP analysis (see Figure 3). Axalta will hold a virtual Capital Markets Day on Wednesday, May 5."
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