Axalta Coating Systems (AXTA) PT Raised to $46 at BMO Capital

BMO Capital analyst John McNulty raised the price target on Axalta Coating Systems (NYSE: AXTA) to $46.00 (from $45.00) while maintaining a Outperform rating.

The analyst commented, "AXTA is solidly outpacing its end-markets as execution on cost/efficiency initiatives, new business and robust FCF is driving 35-40%+ EPS growth.
With significantly more left in AXTA's Transformative & Network Optimization cost outs, and an increased focus on top-line growth (with the long-term margin targets already reached), AXTA should continue to post solid DD EPS growth and record ROCE over the next few years. All of this and modest multiple expansion should drive the stock toward the mid/upper $40s. We reiterate our OP, AXTA remains a top SMID cap pick."

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