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Fly News Breaks for July 24, 2017
PPG
Jul 24, 2017 | 06:33 EDT
BofA/Merrill analyst Steve Byrne downgraded PPG to neutral and retained its $115 price target citing sluggish fundamentals and limited near-term catalysts and sees better relative value elsewhere in the group. The analyst said Q2 organic growth was zero and is concerned about the impact from a deceleration in global auto production and said PPG's ability to pass through rising raw material costs is unclear.
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