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PPG

PPG

$102.19

0.61 (0.60%)

08:28
10/07/16
10/07
08:28
10/07/16
08:28

PPG Industries board authorizes $2B share repurchase program

The company said that its board of directors has authorized a $2 billion share repurchase program. This program is in addition to the company's existing share repurchase authorization which was approved in 2014 and had approximately $520 million remaining as of September 30, 2016. The company has deployed approximately $1.85 billion of cash on acquisitions and share repurchases, including about $250 million of share repurchases completed during the third quarter 2016, against its previously stated target of $2.0 billion to $2.5 billion for 2015 and 2016 combined.

  • 20

    Oct

PPG PPG
$102.19

0.61 (0.60%)

03/22/16
FBCO
03/22/16
INITIATION
Target $115
FBCO
Outperform
PPG Industries initiated with an Outperform at Credit Suisse
Credit Suisse analyst Christopher Parkinson assumed coverage on PPG Industries with an Outperform rating and $115 price target.
05/06/16
LYON
05/06/16
DOWNGRADE
LYON
Outperform
PPG Industries downgraded to Outperform from Buy at CLSA
06/23/16
LBOW
06/23/16
UPGRADE
LBOW
Buy
PPG Industries upgraded to Buy from Neutral at Longbow
Longbow analyst Dmitry Silverstein upgraded PPG Industries to Buy with a $130 price target on shares. The analyst believes PPG's efforts to improve organic growth may be gaining momentum given evidence of accelerating growth in PPG's store channel and increased traction from new higher priced products at Menards. Further, faster growth of auto-OEM, Industrial, Aerospace and EMEA businesses in 2H16, driving above-consensus performance, upward earnings revisions and expanding multiples, the analyst wrote.
07/26/16
GHSC
07/26/16
UPGRADE
Target $130
GHSC
Buy
PPG Industries upgraded to Buy from Accumulate at Seaport Global
Seaport Global analyst Michael Harrison upgraded PPG to Buy from Accumulate and raised its price target to $130 from $125. The analyst increased the outlook for the coatings business and adjusted the model to reflect the divestiture of most the Glass segment and said PPG is a high-quality core holding that should be able to leverage organic and inorganic growth opportunities, maintain focus on cost discipline, and return cash to shareholders.

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