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Fly News Breaks for April 11, 2018
AXTA
Apr 11, 2018 | 08:34 EDT
BMO Capital analyst John McNulty keeps his Market Perform rating and $33 price target on Axalta Coating but lowers his Q1 EPS view to 23c from 28c. The analyst cites his channel checks revealing some raw materials headwinds impacting Q1 results, though he expects the company to address those via higher prices as the year progresses. Longer term, McNulty sees the positive revenue trends that the management referenced at last month's investor day to continue through the quarter, forecasting 15% or more annual EPS growth in FY18-FY20.
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