Goldman Sachs Reiterates Buy Rating On PPG Industries

According to Goldman Sachs, PPG Industries PPG Buy rating is reiterated. Goldman Sachs said that, after pre-announcing a sizeable 1Q11 beat on March 30, 2011, that helped propel PPG's share price to around $96/share, the stock has since been under constant pressure now trading at just $85/share. “While a level of sympathy sell off consistent with investors de-risking and moving away from materials stocks is understandable, we find the dramatic valuation erosion in PPG's share excessive.” PPG Industries closed yesterday at $85.50.