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KSANF

Kansai Paint

$0.00

(0.00%)

, PPG

PPG

$117.00

0.395 (0.34%)

16:37
07/18/19
07/18
16:37
07/18/19
16:37

Axalta Coating interests rivals PPG and Kansai Paint, Bloomberg reports

Axalta Coating (AXTA) has garnered interest from some of its competitors with the goal of reaching a deal in the fall, Kiel Porter and Dinesh Nair of Bloomberg reported, citing people familiar with the matter. Kansai Paint (KSANF) and PPG (PPG) are considering making offers, but Akzo Nobel (AKZOY) said it is not involved with the process at this time. Axalta has not officially decided on selling all or part of the company and private equity firms are reportedly also interested. Reference Link

KSANF

Kansai Paint

$0.00

(0.00%)

PPG

PPG

$117.00

0.395 (0.34%)

AKZOY

AkzoNobel

$0.00

(0.00%)

AXTA

Axalta Coating

$30.40

0.175 (0.58%)

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KSANF Kansai Paint
$0.00

(0.00%)

07/01/19
MSCO
07/01/19
DOWNGRADE
MSCO
Underweight
Kansai Paint downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Takato Watabe downgraded Kansai Paint to Underweight from Equal Weight and lowered his price target for the shares to 2,000 yen from 2,450 yen.
PPG PPG
$117.00

0.395 (0.34%)

07/09/19
SOCG
07/09/19
INITIATION
Target $138
SOCG
Buy
PPG initiated with a Buy at Societe Generale
Societe Generale initiated PPG with a Buy rating and $138 price target.
04/22/19
DBAB
04/22/19
NO CHANGE
Target $134
DBAB
Buy
PPG price target raised to $134 from $120 at Deutsche Bank
Deutsche Bank analyst David Begleiter raised his price target for PPG Industries to $134 from $120 following the company's "solid" Q1 results. PPG is executing well on its pricing and cost reduction initiatives in a weak macro environment and the current valuation is attractive, Begleiter tells investors in a post-earnings research note. He keeps a Buy rating on the shares.
04/12/19
KEYB
04/12/19
NO CHANGE
Target $125
KEYB
Overweight
PPG price target raised to $125 from $117 at KeyBanc
KeyBanc analyst Michael Sison reiterated an Overweight rating on PPG and raised his price target to $125, saying the company has good leverage to demand recovery and should begin to see benefits of higher pricing closing the raw material gap helping to offset negative foreign currency pressures and "sluggish" auto OEM and European demand.
03/22/19
03/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PPG (PPG) downgraded to Underweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying PPG shares have been drifting higher in 2019 as the market continues to prefer higher quality and less cyclical materials companies, however general economic business conditions are "arguably weaker than they have been because of decreased rates of economic growth in China and in Europe." 2. Sherwin-Williams (SHW) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 3. Booking Holdings (BKNG) downgraded to Neutral from Outperform at Wedbush with analyst James Hardiman stating that he believes the company's dominant position in Europe will be favorable in the long term, but is likely to represent a liability in 2019 as it is could amplify risks of earnings revisions and multiple compression. 4. Biogen (BIIB) downgraded to Underweight from Overweight at Morgan Stanley with analyst Matthew Harrison citing the failure of two Alzheimer's disease trials and noting that his optimism on Alzheimer's was "completely wrong." 5. Lululemon (LULU) downgraded to Neutral from Outperform at Wedbush with analyst Jen Redding saying that while she continues to see lululemon as best in class among specialty retailers, she is moving to the sidelines in anticipation of potentially less margin upside ahead, based on insights from proprietary data products. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AKZOY AkzoNobel
$0.00

(0.00%)

04/08/19
ABNA
04/08/19
DOWNGRADE
ABNA
Hold
AkzoNobel downgraded to Hold from Buy at ABN Amro
06/19/19
SBSH
06/19/19
NO CHANGE
SBSH
Axalta Coating under pressure to deliver on M&A, says Citi
Citi analyst P.J. Juvekar said Axalta is under increased pressure "to deliver on M&A now or risk its credibility" after the company announced it is exploring strategic options again after going through the same process in 2017. Previously the company had M&A negotiations with AkzoNobel (AKZOY) and briefly with Nippon Paints, though neither reached a deal, and this time it could approach new players like Berkshire Hathaway (BRK.A), which already owns roughly 10% of the company, or Sherwin-Williams (SHW), contends Juvekar. Axalta does not have architectural paint, which trades at high multiples compared to industrial paint, and he thinks a multiple range of 12x-13x, equating to a stock price in the mid-to-high $30 range, is possible in a deal, though "there is no guarantee that a deal would happen," Juvekar stated in a note to investor before the open.
07/08/19
SBSH
07/08/19
DOWNGRADE
SBSH
Sell
AkzoNobel downgraded to Sell from Neutral at Citi
Citi analyst Mubasher Chaudhry downgraded AkzoNobel to Sell from Neutral with a price target of 70 euros after taking over coverage of the name. The company needs to rationalize its global footprint, and its current strategy to achieve 450 basis points of margin expansion is not feasible, Chaudhry tells investors in a research note. The analyst believes AkzoNobel should sell assets that have low market share and profitability.
06/20/19
DBAB
06/20/19
NO CHANGE
Target $35
DBAB
Buy
Axalta sale in mid-$30s per share most likely outcome, says Deutsche Bank
Deutsche Bank analyst David Begleiter raised his price target for Axalta Coating Systems (AXTA) to $35 from $30 after the company announced that its board had initiated a review of strategic alternatives, including a potential sale. The analyst views the announcement as a "solid positive," though he notes that it is not new information as Axalta has "arguably" been for sale for the last two-plus years. Further, the timing is unusual as the three most likely bidders for Axalta are somewhat constrained in the near-term as Nippon Paint is buying Dulux, AkzoNobel (AKZOY) is focused on delivering "aggressive" 2020 margin targets, and Sherwin-Williams (SHW) is still a bit levered post Valspar, Begleiter tells investors in a research note. Still, the analyst believes the most likely outcome of Axalta's process is a sale of the company in the mid-$30s per share. And without a sale, Begleiter believes downside in the stock is limited, creating an attractive risk/reward setup. He reiterates a Buy rating on Axalta Coating.
AXTA Axalta Coating
$30.40

0.175 (0.58%)

06/26/19
KEYB
06/26/19
NO CHANGE
Target $35
KEYB
Overweight
Axalta Coating price target raised to $35 from $30 at KeyBanc
KeyBanc analyst Michael Sison raised his price target for Axalta Coating to $35 from $30 as it explores strategic alternatives that could yield attractive upside on a takeout basis. On a fundamental basis, the analyst sees modest LSD EBITDA growth driven primarily by pricing and cost savings offsetting weak demand in auto OEM and industrial markets. Sison reiterates an Overweight rating on the shares.
07/12/19
BREN
07/12/19
INITIATION
Target $35
BREN
Buy
Axalta Coating initiated with a Buy at Berenberg
Berenberg analyst Paretosh Misra initiated Axalta Coating with a Buy and $35 price target.
07/12/19
07/12/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Slack Technologies (WORK) and Zoom Video (ZM) were initiated with an Overweight at Stephens. 2. Fate Therapeutics (FATE) initiated with an Outperform at Oppenheimer. 3. Ameris Bancorp (ABCB) initiated with an Outperform at Raymond James. 4. TriCo Bancshares (TCBK) initiated with a Neutral at Piper Jaffray. 5. Axalta Coating (AXTA) initiated with a Buy at Berenberg. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/21/19
BMOC
06/21/19
NO CHANGE
Target $34
BMOC
Market Perform
Axalta Coating price target raised to $34 from $32 at BMO Capital
BMO Capital analyst John McNulty raised his price target on Axalta Coating to $34 and kept his Market Perform rating following the 15% rally in the stock on news that the management has initiated review of strategic alternatives. The analyst notes that there may be some M&A interest given the company's "attractive" assets, and the stock's fair value could reach the $36-$44 per share range if a deal is reached.

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American Eagle

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AAPL

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BCLI

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WLK

Westlake Chemical

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GIG

GigCapital

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(0.00%)

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