UBS Maintains a 'Neutral' on PPG Industries (PPG); Raising Numbers on Stong Q1

UBS maintains a 'Neutral' on PPG Industries (NYSE: PPG) price target raised from $90 to $98.

Analyst, Andrew W. Cash, said, "PPG reported adjusted 1Q EPS of $1.81, in line-with the upper end of the pre-release guidance range and well ahead of the prior Consensus of $1.44/s. Areas of strength included North American coating, aerospace, automotive coatings and optical products...We are increasing our estimate of 2013 EPS to $9.05 from $8.70. Including our prior estimate increases that we made with our earnings preview note of April 16, the improved earnings outlook prompted us to review our price target for PPG."

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 $101.00 yesterday.

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