Akzo Nobel NV

AKZA: XAMS (NLD)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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AkzoNobel: Portfolio Review Could Unlock Shareholder Value in Challenging Coatings Environment

Spencer Liberman

Jan 17, 2025

After taking a fresh look at AkzoNobel, we have decreased our fair value estimate to EUR 66 per share from EUR 83 as we have tempered our long-term margin outlook. We are maintaining our narrow economic moat rating and our standard capital allocation rating. We believe AkzoNobel benefits from intangible assets and switching costs that are derived from its decorative coatings and performance coatings businesses. The decorative coatings business sells paints for architectural projects to the do-it-yourself and professional painter end markets, while the performance coatings business sells specialty coatings to a wide array of industrial end markets.

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Akzo Nobel NV

AkzoNobel: Portfolio Review Could Unlock Shareholder Value in Challenging Coatings Environment

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