PPG Industries (PPG) PT Raised to $136 at Citi Stock Has Room To Run

Citi analyst P.J. Juvekar raised the price target on PPG Industries (NYSE: PPG) to $136.00 (from $120.00) while maintaining a Buy rating after the company reported EPS of $1.38 vs. $1.21 consensus for 1Q19.

The analyst stated "This was the key catalyst in our late 2018 upgrade of the stock and we continue to see runway for the shares as further pricing actions are achieved. Like many stocks in our coverage, hitting PPG’s guidance necessitates a strong 2H19, but barring a macro slowdown, we think many of the levers to hit targets are within PPG management control, including higher selling prices and cost cutting ($20mm in 1Q)".

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