PPG Gets Price Target Bumps By Analysts After Q1 Forecast

PPG Industries, Inc. PPG said it expects Q1 adjusted earnings significantly above the company's previous guidance.

PPG said it now expects Q1 adjusted earnings of $1.52 to $1.58 per share, which exceeded earlier guidance of $1.10 to $1.20 per share.

PPG is scheduled to report detailed Q1 financial results and issue full-year 2023 guidance on April 20, 2023, after the closing bell.

PPG shares gained 4.8% to close at $140.04 on Monday.

These analysts made changes to their price targets on PPG following the release of guidance.

• Morgan Stanley raised the price target on PPG from $120 to $140. Morgan Stanley analyst Vincent Andrews maintained an Equal-Weight rating.
• Wells Fargo boosted the price target on PPG from $124 to $143. Wells Fargo analyst Michael Sison maintained an Equal-Weight rating.

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