Market Overview

UPDATE: Jefferies Upgrades PPG Industries to Buy on Activism-Enhanced Shareholder Value

Share:
Related PPG
Earnings Scheduled For April 16, 2015
PPG to Increase Silica Production Capacity at Delfzijl, Netherlands, Plant
Preview: European Investors Still In Love With North American Equities (Seeking Alpha)

Jefferies raised its rating on PPG Industries (NYSE: PPG) from Hold to Buy and increased its price target from $117 to $135.

Jefferies noted, "PPG's activist approach to enhancing shareholder value, coupled with a robust balance sheet, suggest the risk/reward is improving. … We are adjusting our forecasts to reflect the upcoming divestiture of the chlor-alkali business, more caution on end market momentum in 2H12 (particularly in Europe & electronics), and a 1% lower volume growth assumption across the portfolio for 2013-2014. We expect raw material trends to be net favorable in 2H12."

PPG Industries closed at $113.14 on Friday.

Latest Ratings for PPG

DateFirmActionFromTo
Feb 2015Morgan StanleyAssumesEqual-weight
Jan 2015CitigroupMaintainsBuy
Jan 2015Deutsche BankMaintainsBuy

View More Analyst Ratings for PPG
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (PPG)

Around the Web, We're Loving...