Wells Fargo Starts PPG Industries (PPG) at Outperform; Shareholder Friendly With Leading Market Shares, Mix

Wells Fargo initiates coverage on PPG Industries (NYSE: PPG) with an Outperform. PT range $87-$90.

Wells analyst says, "We believe the company’s strong market positions, favorable mix, growing exposure to emerging markets, shareholder friendliness, and attractive valuation support our constructive thesis. The shares have declined 13% year to date, outpacing the 8% drop in the S&P 500, and are trading below peers. We introduce our 2011-12E EPS at $7.00 and $7.60."

For more ratings news on PPG Industries click here and for the rating history of PPG Industries click here.

Shares of PPG Industries closed at $73.12 yesterday.

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