Jefferies Reiterates Buy on PPG Industries (PPG) Following In-Line 2Q - PT to $129
Get Alerts PPG Hot Sheet
Rating Summary:
19 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
Jefferies reiterated a Buy rating on PPG Industries (NYSE: PPG), and raised the price target to $129.00 (from $127.00), following the company's 2Q earnings report. EPS of $1.85 was in line with consensus. F/X was a $0.04 headwind to EPS.
Analyst Laurence Alexander commented, "Q2 was "new typical": limited volume growth (softness in architectural offsetting growth in industrial and auto OEM), limited pricing (productivity and raw materials driving margins), and progress tidying up the portfolio. Despite have an extra $0.5bn coming in from the sale of flat glass, PPG has not revised its capital deployment plans, opting to fund pension and asbestos obligations."
For an analyst ratings summary and ratings history on PPG Industries click here. For more ratings news on PPG Industries click here.
Shares of PPG Industries closed at $108.59 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MarineMax (HZO) PT Lowered to $35 at Stifel
- Keefe, Bruyette & Woods Upgrades Trustmark (TRMK) to Outperform
- Comcast Corp (CMCSA) PT Lowered to $48 at Pivotal Research
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Jefferies & Co, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!