UPDATE: Jefferies Raises PPG Industries' PT

According to a research report published earlier today, Jefferies has increased PPG Industries'

PT from $90 to $106. Jefferies commented in the report, “We believe Q1 is on track and some markets (Europe, tires) have been better than we expected. Accordingly, we are raising Q1 EPS $0.15 to $1.47, and raising our 12-month price target $16 to $106, 13x 2013E EPS.” Jefferies maintains its Hold rating on PPG, which closed yesterday at $95.74.