Credit Suisse Raises PPG Target To $89 From $85

Credit Suisse is raising its price target on PPG Industries, Inc. PPG to $89 (from $85), “which represents 7.5X our 2012 EBITDA estimate (with all free cash put toward reducing the net debt in our valuation calculation) offering upside of roughly 9%, including a 2.6% dividend yield.” Credit Suisse maintains its Neutral rating on PGG Industries, which currently trades at $84.92.