Wells Fargo lowered the firm’s price target on Axalta Coating (AXTA) to $39 from $40 and keeps an Overweight rating on the shares. The firm is reducing earnings estimates for its coatings names as its checks point to weaker demand during Q2, particularly in June. Wells remains bullish on the names as valuations remain attractive given all should see positive year-over-year earnings growth in 2025.
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