Evercore downgrades Axalta to In Line on risk to guidance

Evercore ISI analyst Eric Boyes downgraded Axalta Coating (AXTA) to In Line from Outperform with a price target of $32, down from $47. The firm believes the company is at risk of cutting its fiscal 2025 outlook due to persistent destocking in refinish and weakness in industrial. Further, it is now increasingly likely that destocking continues into the first half of 2026, and Evercore’s analysis suggests a rebound in collision claims remains a few quarters out, the analyst tells investors in a research note. Evercore believes that with limited near-term catalysts for Axalta shares, “a move to the sidelines is prudent.”