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PPG

PPG

$119.86

2.47 (2.10%)

14:12
04/18/19
04/18
14:12
04/18/19
14:12

PPG sees 'unfavorable' currency translation continuing into Q2

Sees unfavorable currency translation continuing into Q2. Says earnings negatively impacted by about $20M of foreign currency translation in Q1. Says economic growth in Europe is expected to remain weak. Says Brexit delay leads to continued uncertainty. Comments taken from Q1 earnings conference call.

  • 18

    Apr

  • 18

    Apr

PPG PPG
$119.86

2.47 (2.10%)

03/22/19
JPMS
03/22/19
DOWNGRADE
Target $106
JPMS
Underweight
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.
03/22/19
JPMS
03/22/19
DOWNGRADE
Target $106
JPMS
Underweight
JPMorgan downgrades PPG to Underweight, says company split unlikely
JPMorgan analyst Jeffrey Zekauskas downgraded PPG Industries to Underweight from Neutral with an unchanged price target of $106. PPG shares have been drifting higher in 2019 as the market continues to prefer higher quality and less cyclical materials companies to their more cyclical counterparts, Zekauskas tells investors in a research note. However, the analyst believes general economic business conditions are "arguably weaker than they have been because of decreased rates of economic growth in China and in Europe." He continues to think that an 11.5 times multiple of 2019 EBITDA represents fair value for PPG, which implies a $106 share price objective for 2019. Further, PPG is unlikely to split itself into two different coatings entities as Trian has suggested, Zekauskas contends.
03/22/19
03/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PPG (PPG) downgraded to Underweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying PPG shares have been drifting higher in 2019 as the market continues to prefer higher quality and less cyclical materials companies, however general economic business conditions are "arguably weaker than they have been because of decreased rates of economic growth in China and in Europe." 2. Sherwin-Williams (SHW) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 3. Booking Holdings (BKNG) downgraded to Neutral from Outperform at Wedbush with analyst James Hardiman stating that he believes the company's dominant position in Europe will be favorable in the long term, but is likely to represent a liability in 2019 as it is could amplify risks of earnings revisions and multiple compression. 4. Biogen (BIIB) downgraded to Underweight from Overweight at Morgan Stanley with analyst Matthew Harrison citing the failure of two Alzheimer's disease trials and noting that his optimism on Alzheimer's was "completely wrong." 5. Lululemon (LULU) downgraded to Neutral from Outperform at Wedbush with analyst Jen Redding saying that while she continues to see lululemon as best in class among specialty retailers, she is moving to the sidelines in anticipation of potentially less margin upside ahead, based on insights from proprietary data products. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/12/19
KEYB
04/12/19
NO CHANGE
Target $125
KEYB
Overweight
PPG price target raised to $125 from $117 at KeyBanc
KeyBanc analyst Michael Sison reiterated an Overweight rating on PPG and raised his price target to $125, saying the company has good leverage to demand recovery and should begin to see benefits of higher pricing closing the raw material gap helping to offset negative foreign currency pressures and "sluggish" auto OEM and European demand.

TODAY'S FREE FLY STORIES

TSLA

Tesla

$335.85

5.6 (1.70%)

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  • 07

    Jan

ATRC

AtriCure

$30.99

1.29 (4.34%)

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Conference/Events
AtriCure management to meet with JPMorgan »

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ACAD

Acadia

$51.37

0.915 (1.81%)

, AMGN

Amgen

$233.74

0.3 (0.13%)

04:55
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Conference/Events
Clinical Trials on Alzheimer's Disease to hold conference »

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ACAD

Acadia

$51.37

0.915 (1.81%)

AMGN

Amgen

$233.74

0.3 (0.13%)

AZN

AstraZeneca

$47.68

0.06 (0.13%)

BIIB

Biogen

$300.27

0.98 (0.33%)

CLB

Core Laboratories

$46.19

1.94 (4.38%)

DNA

Bought by RHHBY

$0.00

(0.00%)

ESALY

Eisai

$0.00

(0.00%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

LLY

Eli Lilly

$119.59

-0.175 (-0.15%)

MRK

Merck

$88.84

0.09 (0.10%)

NVS

Novartis

$92.08

0.42 (0.46%)

RHHBY

Roche

$0.00

(0.00%)

TAK

Takeda Pharmaceutical

$20.27

-0.16 (-0.78%)

VCNX

Vaccinex

$4.95

-0.05 (-1.00%)

03/08/13
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  • 07

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    Dec

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  • 16

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    Dec

  • 21

    Jan

  • 24

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    Jan

  • 05

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    Mar

MGTA

Magenta Therapeutics

$13.29

0.3 (2.31%)

04:55
12/07/19
12/07
04:55
12/07/19
04:55
Conference/Events
Magenta Therapeutics to hold an investor and analyst event »

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  • 07

    Dec

  • 07

    Dec

04:55
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12/07
04:55
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04:55
Conference/Events
JPMorgan enterprise software analyst to hold an analyst/industry conference call »

Software Analyst Murphy,…

RUHN

Ruhnn

$6.19

-0.2 (-3.13%)

04:55
12/07/19
12/07
04:55
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04:55
Conference/Events
Ruhnn management to meet with Mizuho »

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  • 07

    Dec

  • 08

    Dec

  • 09

    Dec

FITB

Fifth Third

$30.24

0.365 (1.22%)

, CSCO

Cisco

$43.83

0.29 (0.67%)

18:37
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18:37
Hot Stocks
Fifth Third issues statement on temporary network outage »

Fifth Third Bank (FITB)…

FITB

Fifth Third

$30.24

0.365 (1.22%)

CSCO

Cisco

$43.83

0.29 (0.67%)

03/08/13
Wedge Partners
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  • 09

    Dec

  • 10

    Dec

  • 12

    Dec

  • 08

    Jan

  • 12

    Feb

STML

Stemline

$10.33

0.5 (5.09%)

, PFE

Pfizer

$38.29

0.26 (0.68%)

18:33
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STML

Stemline

$10.33

0.5 (5.09%)

PFE

Pfizer

$38.29

0.26 (0.68%)

GSK

GlaxoSmithKline

$45.51

0.29 (0.64%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 07

    Dec

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  • 11

    Dec

GOL

Gol Linhas

$17.39

1.07 (6.56%)

18:31
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12/06
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18:31
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Gol Linhas announces preliminary traffic figures for November »

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NAVB

Navidea

$0.97

0.07 (7.78%)

18:25
12/06/19
12/06
18:25
12/06/19
18:25
Syndicate
Navidea announces $1.9M private placement »

Navidea announced that…

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EFC

Ellington Financial

$18.22

0.09 (0.50%)

18:23
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12/06
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Ellington Financial reports estimated book value per share $18.51 on November 30 »

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BOOT

Boot Barn

$41.93

0.81 (1.97%)

18:22
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12/06
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Boot Barn CEO: More than 80% of our business is in the store »

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ERIC

Ericsson

$9.24

0.1 (1.09%)

18:18
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Ericsson to pay over $1B to settle FCPA case »

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  • 09

    Dec

GLD

SPDR Gold Shares

$137.59

-1.42 (-1.02%)

17:55
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SPDR Gold Shares holdings fall to 886.23MT from 888.57MT »

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PICO

PICO Holdings

$10.81

0.31 (2.95%)

17:45
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PICO Holdings sells long-term storage credits for $8.7M in Arizona »

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QHC

Quorum Health

$0.95

0.0522 (5.81%)

17:31
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SPRT

Support.com

$1.94

0.01 (0.52%)

17:30
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12/06
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17:30
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Breaking Hot Stocks news story on Support.com »

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BXRX

Baudax Bio

$6.69

0.34 (5.35%)

17:29
12/06/19
12/06
17:29
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17:29
Syndicate
Breaking Syndicate news story on Baudax Bio »

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  • 16

    Dec

LMT

Lockheed Martin

$387.10

1.175 (0.30%)

17:25
12/06/19
12/06
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17:25
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Lockheed Martin awarded $153.39M Navy contract modification »

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ENV

Envestnet

$71.72

1.27 (1.80%)

17:23
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17:23
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Breaking Syndicate news story on Envestnet »

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NOC

Northrop Grumman

$344.79

0.4 (0.12%)

17:20
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Hot Stocks
Northrop Grumman awarded $189M Navy contract modification »

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SPRT

Support.com

$1.94

0.01 (0.52%)

17:03
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Support.com announces special distribution of $1.00 per share »

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SPRT

Support.com

$1.94

0.01 (0.52%)

17:01
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Breaking Hot Stocks news story on Support.com »

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RZLT

Rezolute

$0.00

(0.00%)

17:00
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12/06
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17:00
Syndicate
Breaking Syndicate news story on Rezolute »

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AMZN

Amazon.com

$1,750.79

10.2 (0.59%)

16:58
12/06/19
12/06
16:58
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16:58
Periodicals
U.S. mulls putting Amazon foreign sites on 'Notorious Markets' list, WSJ says »

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