PPG Industries Gets Price Target Hikes By Analysts After Strong Q1 Earnings

PPG Industries Inc PPG reported strong earnings results for the first quarter.

PPG posted quarterly earnings of $1.82 per share, topping market estimates of $1.51 per share. The company’s quarterly revenue came in at $4.38 billion versus estimates of $4.39 billion.

PPG sees aggregate sales volumes remaining flat in the second quarter. The company anticipates second-quarter adjusted earnings of $2.05 to $2.15 per share.

PPG shares gained 0.4% to close at $141.98 on Friday, and added 2.5% in today’s pre-market trading session.

These analysts made changes to their price targets on PPG Industries following earnings announcement.

• Keybanc raised the price target on PPG Industries from $162 to $169. Keybanc analyst Aleksey Yefremov maintained an Overweight rating.
• JP Morgan increased the price target on PPG Industries from $130 to $156. JP Morgan analyst Jeffrey Zekauskas upgraded the stock from Neutral to Overweight.
• Barclays increased the price target on PPG Industries from $142 to $150. Barclays analyst Michael Leithead maintained the stock with an Equal-Weight.
• Mizuho increased the price target on PPG Industries from $151 to $152. Mizuho analyst Christopher Parkinson maintained a Buy rating on the stock.
• Baird boosted the PPG Industries price target from $150 to $160. Baird analyst Ghansham Panjabi maintained an Outperform rating on the stock.
• Morgan Stanley raised PPG price target from $140 to $143. Morgan Stanley analyst Vincent Andrews maintained the stock with an Equal-Weight rating.
• Wells Fargo increased the price target on PPG from $143 to $150. Wells Fargo analyst Michael Sison maintained the stock with an Equal-Weight.

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