Why Axalta Coating Systems Ltd's Shares Popped 19% Midday Today
Shares of Axalta Coating Systems Ltd (NYSE: AXTA) jumped as much as 18.6% in trading midday Friday after reports of a potential merger were reported by Reuters. At 3:15 p.m. EDT, shares had settled down slightly, but were still up 16.6% on the day.
Reuters is reporting that Dutch company Akzo Nobel NV has approached Axalta about a possible merger to create a coatings giant. Akzo itself fought off a buyout attempt from PPG earlier this year and may see the need to expand through its own merger to stay competitive in the market.
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Source: Fool.com
Axalta Coating Systems Ltd. Stock
€32.00
1.270%
We see a rather positive sentiment for Axalta Coating Systems Ltd. with 14 Buy predictions and 1 Sell predictions.
As a result the target price of 37 € shows a slightly positive potential of 15.63% compared to the current price of 32.0 € for Axalta Coating Systems Ltd..
