Jefferies Lifts Numbers on PPG Industries (PPG) After Positive Outlook

Jefferies raised estimates and its price target on PPG Industries (NYSE: PPG) following the company's positive Q1 pre-announcement, although they maintain a Hold rating.

The firm's price target goes from $106 to $109, Q1 EPS goes up to $1.80 and FY12 EPS goes up from $8.15 to $9.05.

"We expect the Q1 call to be split between cyclical datapoints, mix shifts, and questions around margin sustainability," the firm comments.

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 $96.29 yesterday.

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