Auto manufacturer demand remains sluggish in North America, and soft in Europe and Asia, which should keep shares of Axalta Coating Systems range-bound in the near-term, Jefferies analyst Laurence Alexander tells investors in a research note. However, given the company's "steady growth" in refinish and "relatively flat" industrial coatings, the analyst expects its total sales to rise 2% this year. Further, the cost of most raw materials likely peaked in Q4 of 2018, and Axalta should also benefit from productivity gains, says the analyst. He keeps a Buy rating on the shares with a $34 price target.