Seaport Global analyst Michael Harrison CFA maintains $Axalta Coating Systems (AXTA.US)$ with a buy rating, and adjusts the target price from $44 to $50.
According to TipRanks data, the analyst has a success rate of 61.5% and a total average return of 6.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Axalta Coating Systems (AXTA.US)$'s main analysts recently are as follows:
The company's reported Q3 performance exceeded expectations, displaying earnings growth that surpasses industry averages. This supports the positive outlook for a 'New Axalta,' highlighting the company's potential based on recent financial results.
Despite a subdued performance in the Commercial Vehicle and Industrial sectors, Axalta Coating experienced earnings growth driven by reduced costs. Additionally, the company's Refinish segment is surpassing market performance, achieving organic growth through new business gains, strategic pricing, and the integration of the CoverFlexx acquisition.
Following the earnings report, Axalta Coating seems to be increasing its market share to counteract the prevailing weak industry volume trends.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
