PPG Showing No Signs Of Slowing Down

PPG Industries, Inc. PPG is reporting a 3Q on track relative to historical coverage, Deutsche Bank reports. Estimates currently are at $1.55, and EPS estimates are expected to grow ~10% for 2011. Deutsche Bank hosted meeting with PPG CEO Chuck Bunch and investors on 9/8, and key takeaways included: 1. No signs are seen of slowing in key markets (auto, general industrial, marine, aerospace) and by region, strong growth is continuing to be reported in Western Europe and North America. 2. PPG's construction related businesses in residential and commercial sectors remains weak in Europe and North American while Asia continues to grow. 3. With over $500M in excess cash, PPG will begin M&A and share buybacks, with main focus on bolt-on paints and coatings acquisitions in emerging markets. 4. PPG is considering restarting its natural gas hedging program due to low natural gas prices. Deutsche Bank maintains its $70 price target and Hold rating. PPG Industries, Inc. closed yesterday at $69.10