Market Overview

Bank of America Merrill Lynch Reiterates Buy Rating, $139 PT on PPG Industries

Share:
Related PPG
Earnings Scheduled For July 16, 2015
PPG Acquires Paint Stores Network in Central America
It Was Wrong To Sell Facebook - Cramer's Mad Money (7/30/15) (Seeking Alpha)

In a report published Monday, Bank of America Merrill Lynch reiterated its Buy rating and $139.00 price target on PPG Industries (NYSE: PPG).

BofA Merrill Lynch noted, “We like PPG's Optical business and the portfolio's improved mix, diminished cyclicality, higher growth, and strong cash flow net of pension and other liabilities. Recent declines in key raw materials, such as propylene, bode well for margins, in our view. While overweight exposure to Europe gives us pause, much of this exposure is via architectural coatings, where volumes have been depressed for years. Ongoing restructuring efforts should help as well.”

PPG Industries closed on Friday at $129.93.

Latest Ratings for PPG

DateFirmActionFromTo
Jul 2015Deutsche BankMaintainsBuy
Jun 2015JefferiesMaintainsBuy
Feb 2015Morgan StanleyAssumesEqual-weight

View More Analyst Ratings for PPG
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Reiteration Analyst Ratings

 

Related Articles (PPG)

Get Benzinga's Newsletters