Barclays on U.S. Chemicals: Q1 Paint Season Sees Strong Start

Barclays on U.S. Chemicals: Paint Season off to a Strong Start in Q1

Analyst, Christopher J. Nocella, said, "PPG Industries (NYSE: PPG) and Sherwin-Williams (NYSE: SHW) have pre-announced very strong Q1'12: PPG's guidance is for 25-29% EPS growth over Q1'11, and SHW's guidance is for 46-51% EPS growth over Q1'11."

"We are increasing our Q1'12 EPS estimate for PPG to $1.79 from $1.45, our 2012 EPS estimate to $7.85 from $7.33 and our 2013 EPS estimate to $8.30from $8.13." PT raised from $101 to $105.

"We are increasing our Q1'12 EPS estimate for SHW to $0.94 from $0.75, our 2012 EPS estimate to $6.15 from $5.74 and our 2013 EPS estimate to $6.98 from $6.66." PT raised from $110 to $115.

Barclays also raises numbers on Valspar (NYSE: VAL): FY12 EPS estimate from $3.17 to $3.28 and FY13 from $3.55 to $3.65. PT raised from $52 to $56.

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