Market Overview

UPDATE: Bank of America Downgrades Axiall on Downside Risks, Lack of Potential Upside Catalysts

Westlake Chemical Reports Filing of Definitive Proxy Statement, Investor Presentation Related to Axial Annual Meeting
Top Performing Industries For April 19, 2016

In a report published Friday, Bank of America analyst Aleksey V. Yefremov downgraded the rating on Axiall Corp. (NYSE: AXLL) from Buy to Neutral, and lowered the price target from $56.00 to $45.00.

In the report, Bank of America noted, “We see lack of potential upside catalysts through the end of 2013, while downside risks to chlor-alkali prices (caustic soda + chlorine) became greater recently. We initiated coverage of AXLL with a Buy rating on June 5 based on expected improvement in PVC resin offsetting weakness in caustic soda. While caustic soda prices did decline in July-August, we believe prices could fall more over the next 6 months. Meanwhile, improvement in PVC margins now appears unlikely until the next building season begins in the spring of 2014. We think there is value in AXLL shares for long-term investors, but we do not expect shares to outperform in the near/medium term.”

Axiall Corp. closed on Thursday at $40.75.

Latest Ratings for AXLL

Apr 2016CitigroupMaintainsNeutral
Apr 2016SunTrust Robinson HumphreyDowngradesBuyNeutral
Mar 2016Cowen & CompanyUpgradesMarket PerformOutperform

View More Analyst Ratings for AXLL
View the Latest Analyst Ratings

Posted-In: Aleksey V. Yefremov Bank of AmericaAnalyst Color Downgrades Analyst Ratings


Related Articles (AXLL)

View Comments and Join the Discussion!