2024-03-10 07:07:12 ET
Summary
- AXTA's past financials have demonstrated strong revenue recovery from the impact of COVID-19. In addition, margins have remained robust.
- AXTA continued to show strong revenue growth in 2023, with expanding margins compared to the previous year.
- The refinish segment, which forms the largest share of revenue, is expected to remain robust, supported by the increasing number of cars and body shop wins.
- From my relative valuation model, my target price indicates double-digit upside potential. Therefore, I am recommending a buy rating.
Synopsis
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Axalta Coating Systems: Positive Refinish And Mobility Coating Outlook