Wolfe Research initiated coverage of Axalta Coating with a Peer Perform rating as part of a broader research note on Chemicals, Agriculture and Packaging names. High European exposure, fully recovered SAAR, and traffic pattern shifts will challenge industry volume growth, though share gains in Refinish are still part of the investment story for Axalta, the analyst tells investors in a research note. The company’s CEO Chris Villavarayan is putting a clear emphasis on improving operating efficiency, though further cost optionality are essential to the investment story, the firm added.
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