Axalta Coating price target raised to $40 from $35 at Baird

Baird analyst Ghansham Panjabi raised the firm’s price target on Axalta Coating to $40 from $35 and keeps an Outperform rating on the shares. The firm said shares moved higher after its Q1 earnings report noting the earnings report and guidance raise was partially a reversal from an initially conservative 2024 guidance mosaic. They nonetheless view the self-improvement led beat-and-raise paradigm as a positive differentiator for the investment profile, as highlighted by solid earnings momentum during 1Q24.