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Fly News Breaks for April 26, 2019
AXTA
Apr 26, 2019 | 06:45 EDT
JPMorgan analyst Jeffrey Zekauskas downgraded Axalta Coating Systems to Neutral from Overweight and lowered his price target for the shares to $27 from $30. Risks of continued weakness in the global auto manufacturing market are "appreciable," which may lead to volume and earnings disappointments later in the year for Axalta, Zekauskas tells investors in a research note. The analyst admits, however, that Axalta "remains the most inexpensive of the coatings companies."
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