Market Overview

UPDATE: Jefferies Raises PT to $150 on PPG Industries on Potential Deal Accretion

Related PPG
Sherwin-Williams Hits 52-Week High On Strong Q2 Results
UPDATE: Bank Of America Reiterates On PPG Industries On Solid 2Q Results

Jefferies reiterated its Buy rating on PPG Industries (NYSE: PPG) and increased its price target from $140 to $150.

Jefferies commented, "Friday morning, PPG announced the acquisition of Akzo's architectural coatings business in North America, which adds 11% to PPG's 2013E sales and significantly increases operating leverage to a recovery in US housing. Coupled with the announced share buyback, we estimate the announcements imply a $0.54-$0.63 potential tailwind in 2014E."

PPG Industries closed at $129.93 on Friday.

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (PPG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters