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PPG

PPG

$112.60

1.73 (1.56%)

04:58
03/22/19
03/22
04:58
03/22/19
04:58

PPG downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Jeffrey Zekauskas downgraded PPG Industries to Underweight from Neutral with an unchanged price target of $106.

  • 18

    Apr

PPG PPG
$112.60

1.73 (1.56%)

01/18/19
JPMS
01/18/19
DOWNGRADE
Target $106
JPMS
Neutral
PPG downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jeffrey Zekauskas downgraded PPG Industries to Neutral while raising his price target for the shares to $106 from $105.
01/18/19
JPMS
01/18/19
DOWNGRADE
Target $106
JPMS
Neutral
JPMorgan downgrades PPG to Neutral with $106 price target
JPMorgan analyst Jeffrey Zekauskas downgraded PPG Industries to Neutral from Overweight while raising his price target for the shares to $106 from $105. PPG is a high-quality coatings company with cyclical characteristics, but higher trading multiples will be "difficult to attain" because of these business characteristics, Zekauskas tells investors in a research note. He points out PPG's current valuation reflects an 11.6 times multiple of estimates fiscal 2019 EBITDA. The analyst's base case is that PPG does not separate the company into freestanding industrial and architectural coatings businesses.
01/18/19
FBCO
01/18/19
NO CHANGE
Target $112
FBCO
Neutral
PPG price target cut to $112 from $115 at Credit Suisse
Credit Suisse analyst Christopher Parkinson maintained a Neutral rating on PPG and cut his price target to $112 following the company's quarterly earnings report on Thursday. In a research note to investors, Parkinson said that while it is "encouraging" that PPG's pricing is beginning to outpace cost inflation, y/y margin recovery is still several quarters away. The analyst says he sees the potential for a positive set-up in 2H and views the story as relatively "de-risked" given lower guidance, he remains on the sidelines as PPG is far from "out of the woods."
01/22/19
RHCO
01/22/19
NO CHANGE
Target $110
RHCO
Hold
PPG price target raised to $110 from $105 at SunTrust
SunTrust analyst James Sheehan raised his price target on PPG to $110 after its Q4 results, saying the stock price was driven higher by investors looking beyond the "subdued" 2019 outlook and favoring the company's considered split in response to shareholder impact. The analyst adds that the 2.5-turn discount valuation on PPG could be narrowed in the event of a break-up over time. In the near term, Sheehan cites the rising FX and cost inflation, along with the continued headwinds in auto production, pressuring the company's first-half earnings, and keephis Hold rating on PPG shares.

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