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Deutsche downgrades Axalta to Hold on refinish concerns

Deutsche Bank analyst David Begleiter downgraded Axalta Coating (AXTA) to Hold from Buy with a price target of $32, down from $38. The firm believes concerns around refinish volumes will remain on overhang on the shares for the “foreseeable future.” The concerns will limit Axalta’s share performance, the analyst tells investors in a research note.

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