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PPG Industries Upgraded to “Buy” at Jefferies; Sees Risk/Reward Improving (PPG)

By Dividend.com,  September 10, 2012, 08:31:58 AM EDT

Paint and coatings maker PPG Industries, Inc. ( PPG ) on Monday caught a big upgrade from analysts at Jefferies & Co.

The firm boosted its rating on PPG from "Hold" to "Buy" while lifting its price target from $117 to $135. That new target suggests a 19% upside to the stock's Friday closing price of $113.14.

A Jefferies analyst commented, "PPG's activist approach to enhancing shareholder value, coupled with a robust balance sheet, suggest the risk/reward is improving. We are adjusting estimates for the upcoming divestiture, and raising our price target to $135, 21% total return."

PPG Industries shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of PPG Industries ( PPG ) have a 2.09% dividend yield, based on Friday's closing stock price of $113.14. The stock has technical support in the $105 price area. The shares are trading near all-time highs.

PPG Industries, Inc. ( PPG ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: PPG



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