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PPG

PPG

$103.49

(0.00%)

09:18
05/17/18
05/17
09:18
05/17/18
09:18

PPG price target lowered to $116 from $123 at BMO Capital

BMO Capital analyst John McNulty lowered his price target on PPG to $116 and also lowered his FY18 EPS view to $6.37 from $6.39, citing the impact of higher raw material inflation due to higher crude-linked inputs. The analyst also keeps his Market Perform rating, but says his recent visit to a PPG Coatings Services facility gave him a better understanding of the opportunity for the company's Services business, which the analyst believes can grow market share and scale.

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PPG PPG
$103.49

(0.00%)

04/25/18
JPMS
04/25/18
UPGRADE
Target $118
JPMS
Overweight
PPG upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Jeffrey Zekauskas upgraded PPG Industries to Overweight with a $118 price target. The analyst sees an attractive entry point at current levels and believes raw material pressures should begin to ease in the second half of 2018 as the propylene derivatives chain becomes more balanced. He also expects PPG's share count to decrease in 2018 and 2019.
05/16/18
JEFF
05/16/18
DOWNGRADE
Target $110
JEFF
Hold
PPG downgraded to Hold from Buy at Jefferies
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.
05/16/18
SBSH
05/16/18
NO CHANGE
SBSH
Citi calls Axalta, Celanese top takeout candidates in Chemicals
While takeovers in the Chemicals space could slow after unprecedented consolidation in 2015-2017, Axalta Coating (AXTA) and Celanese (CE) represent the top buyout candidates in the U.S., Citi P.J. Juvekar tells investors in a research note. Top potential acquirers include Air Products (APD), PPG (PPG) and Albemarle (ALB), the analyst adds.
05/16/18
05/16/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. 3M (MMM) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander saying he sees less room for multiple expansion in a rising interest rate environment and feels the risk/reward "looks increasingly challenging at this point." 2. Vipshop (VIPS) downgraded to Sector Weight from Overweight at KeyBanc with analyst Hans Chung saying he sees uncertainties around Tencent (TCEHY) and JD.com (JD) contributions ahead, which drove high expectations for the top-line growth and multiple expansion, and sees margin pressure likely to continue driven by sector competition and the company's hike in marketing expenses to grow new customer organically. 3. PPG (PPG) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander saying 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. 4. BT Group (BT) downgraded to Market Perform from Outperform at Bernstein. 5. F5 Networks (FFIV) downgraded to Neutral from Buy at DA Davidson with analyst Mark Kelleher saying the positive factors working in the company's favor, such as its ongoing new iSeries product cycle, high gross margins, strong cash flows, and the application of it security solutions have become increasingly more evident after its last earnings report and have since been reflected in the valuation on the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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