Credit Suisse Upgrades PPG to Outperform (PPG)
PPG (NYSE: PPG) was upgraded by equities researchers at Credit Suisse (NYSE: CS) from a “neutral” rating to an “outperform” rating in a report issued on Monday. The firm currently has a $122.00 target price on the stock.
Shares of PPG opened at 105.24 on Monday. PPG has a 52 week low of $66.43 and a 52 week high of $106.40. The company has a market cap of $15.997 billion and a P/E ratio of 18.83.
The company last announced its quarterly results on Thursday, April 19th. It reported $1.81 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.76 EPS by $0.05. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts predict that PPG will post $2.19 earnings per share next quarter.
A number of other firms have also recently commented on PPG. Analysts at Deutsche Bank (NYSE: DB) raised their price target on shares of PPG from $105.00 to $110.00 in a research note to investors on Monday, April 23rd. They now have a “hold” rating on the stock. Separately, analysts at JPMorgan Chase (NYSE: JPM) initiated coverage on shares of PPG in a research note to investors on Monday, April 23rd. They set an “overweight” rating and a $120.00 price target on the stock. Finally, analysts at UBS AG (NYSE: UBS) raised their price target on shares of PPG from $90.00 to $98.00 in a research note to investors on Friday, April 20th. They now have a “neutral” rating on the stock.
PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. PPG operates in six business segments: Performance Coatings, Industrial Coatings, Architectural Coatings-EMEA (Europe, Middle East and Africa), Optical and Specialty Materials, Commodity Chemicals and Glass.