Jefferies Maintains a 'Hold' on PPG Industries (PPG); Adjusting Numbers as Core Still On Track

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Jefferies maintains a 'Hold' on PPG Industries (NYSE: PPG) price target of $117.00 (from $109.00).

Analyst, Laurence Alexander, said, "With weakness in Europe likely to offset favorable raw material trends and productivity savings, we are lowering 2012E $0.10 to $8.30 and 2013E $0.25 to $9.05. To reflect the upcoming exit of the commodity chemicals business, we are raising our 12-month price target $8 to $117, a 10% discount to PPG's SOTP."

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 $113.85 yesterday, with a 52 week range of $66.43-$114.62.

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