Analysts’ takes on PPG Industries
At present, 22 analysts are actively monitoring PPG Industries (PPG). Among these analysts, 63% have recommended “buys” on the stock, 37% have recommended “holds,” and none have recommended “sells.”
Following PPG’s 2Q17 earnings results, analysts’ consensus suggested a target price of $116.23 for the stock, implying a return potential of 8.9%, compared to its closing price of $106.72 on July 20, 2017.
Why analysts are suggesting “buys” and “holds” on PPG
Though PPG Industries posted lower-than-expected revenue in 2Q17, it also announced that it would address its revenue growth going forward. In this regard, it announced its acquisition of The Crown Group, though it didn’t disclose the financials of the deal.
PPG also announced $3.5 billion worth of cash on acquisitions and share repurchases in 2017 and 2018. All these positive factors likely influenced analysts to recommend “holds” or “buys” on PPG Industries.
Views and targets of individual brokerages
Deutsche Bank (DB) rated PPG as a “hold” and recommended a target price of $115 on its stock, implying a potential return of 7.8% over its closing price of $106.72 on July 20, 2017.
Credit Suisse (CS) recommended a target price of $113 on PPG stock, implying a potential return of 5.9% from its closing price on July 20.