Axalta Coating Systems Pulled 2021 Guidance
Axalta Coating Systems Ltd. (NYSE:AXTA) made a pre-announcement on Tuesday, lowering its Q3/21 outlook and withdrawing its full 2021-year guidance due to ongoing supply disruptions and continued raw material inflation.
Analysts at RBC Capital decreased their price target on the company’s shares to $36 from $38, mentioning that they believe the underlying demand in the company's various end markets remains strong, despite the headwinds.
Given the company’s pre-announcement, the brokerage took down its Q3/2021/2022 EBITDA estimates to $191 million/$921 million/$990 million (from $202 million/$940 million/$1,030 million) due to ongoing supply chain disruptions which are resulting in lower auto production rates.
| Symbol | Price | %chg |
|---|---|---|
| TPIA.JK | 10000 | 1.5 |
| AVIA.JK | 450 | 6.22 |
| SQM-B.SN | 32772 | -0.69 |
| 454910.KS | 63200 | -4.59 |
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