Loading...
Loading...
In a report published Friday, Deutsche Bank analyst David Begleiter reiterated a Buy rating on
PPG IndustriesPPG, and raised the price target from $195.00 to $210.00.
In the report, Deutsche Bank noted, “While meetings with PPG EVP Viktor Sekmakas highlighted the company's preference for M&A vs buybacks with the ~$4B of cash it will have post the sale of Transitions 1H14, the meetings also highlighted mitigants to the risks associated with M&A including a strong track record of success and a record of financial conservatism evidenced most recently by PPG being the losing bidder on both Comex (Sherwin) and Inver (Valspar). With PPG positioned to deliver 15% CAGR EPS growth in '14-'15 (driven by Akzo synergies, operating leverage from improving European demand, the deployment of the $4B in cash) and valuation a fair 19.5x ‘14E EPS (vs 19.9x for Sherwin), reiterate Buy.”
PPG Industries closed on Thursday at $181.78.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in