Axalta Posts Record Q2 EBITDA of $305M, BMO Lifts Target to $39
AXTA sits 47% above its 52-week low of $24.937.
Summary
Axalta delivered a standout Q2 with record adjusted EBITDA of $305M on a 22.7% margin, up 13% in adjusted EPS to $0.72, and strong operating cash flow of $152M. Leverage improved to 2.2x while the company raised its merger synergy target to $600M, signaling confidence in the AkzoNobel deal ahead of the August 5 shareholder vote. BMO Capital responded by lifting its price target to $39, reflecting the improved fundamentals. The stock is trading near its 52-week high, and the upcoming merger vote is the next major catalyst.
At the time of this announcement, AXTA was trading at $36.59 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $7.7B. The 52-week trading range was $24.94 to $36.62. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.