PPG Industries (PPG) Gets a Buy Rating from KeyBanc


KeyBanc analyst Michael Sison maintained a Buy rating on PPG Industries (NYSE: PPG) today and set a price target of $119. The company’s shares closed yesterday at $96.38, close to its 52-week low of $96.11.

According to TipRanks.com, Sison is a 5-star analyst with an average return of 12.7% and a 57.4% success rate. Sison covers the Consumer Goods sector, focusing on stocks such as GCP Applied Technologies, Axalta Coating Systems, and Pq Group Holdings Inc.

Currently, the analyst consensus on PPG Industries is a Moderate Buy with an average price target of $112.62, a 16.8% upside from current levels. In a report issued on October 9, Deutsche Bank also maintained a Buy rating on the stock with a $116 price target.

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Based on PPG Industries’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.13 billion and net profit of $371 million. In comparison, last year the company earned revenue of $3.78 billion and had a net profit of $609 million.

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PPG Industries, Inc. engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through the following business segments: Performance Coatings, Industrial Coatings, and Glass. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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