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Fly News Breaks for May 16, 2018
PPG
May 16, 2018 | 06:10 EDT
Jefferies analyst Laurence Alexander downgraded PPG Industries to Hold and lowered his price target for the shares to $110 from $135. Persistent concerns over pricing lagging higher oil-derived raw material costs, end market risk and the reliance on buybacks to protect earnings growth could "easily" move PPG's relative multiple to 10%-15% below the market over the next two years, Alexander tells investors in a research note.
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