Analysts have been eager to weigh in on the Materials sector with new ratings on PPG Industries (PPG), Vale SA (VALE) and Franco Nev (FNV).
PPG Industries (PPG)
In a report issued on September 17, Arun Viswanathan from RBC Capital maintained a Buy rating on PPG Industries, with a price target of $141.00. The company’s shares closed last Monday at $120.08.
According to TipRanks.com, Viswanathan is a 5-star analyst with an average return of 7.6% and a 62.4% success rate. Viswanathan covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Berry Global Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PPG Industries with a $128.54 average price target, which is a 4.0% upside from current levels. In a report issued on September 8, Robert W. Baird also maintained a Buy rating on the stock with a $130.00 price target.
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Vale SA (VALE)
In a report issued on September 17, Tyler Broda from RBC Capital maintained a Buy rating on Vale SA, with a price target of $19.00. The company’s shares closed last Monday at $11.13.
According to TipRanks.com, Broda is a 3-star analyst with an average return of 1.1% and a 51.1% success rate. Broda covers the Basic Materials sector, focusing on stocks such as Fortescue Metals Group, Sibanye Stillwater, and Anglogold Ashanti.
Currently, the analyst consensus on Vale SA is a Strong Buy with an average price target of $16.42, implying a 45.8% upside from current levels. In a report issued on September 8, Jefferies also maintained a Buy rating on the stock with a $18.00 price target.
Franco Nev (FNV)
RBC Capital analyst Josh Wolfson maintained a Hold rating on Franco Nev yesterday and set a price target of $145.00. The company’s shares closed last Monday at $141.36.
According to TipRanks.com, Wolfson is a 4-star analyst with an average return of 4.5% and a 58.6% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Kirkland Lake Gold, and Newmont Mining.
Currently, the analyst consensus on Franco Nev is a Hold with an average price target of $155.23, a 10.2% upside from current levels. In a report issued on September 20, Credit Suisse also maintained a Hold rating on the stock with a $150.00 price target.
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