BMO Capital analyst John McNulty lowered the firm’s price target on PPG (PPG) to $155 from $160 and keeps an Outperform rating on the shares. The company’s quarterly results were disappointing, but not unexpected given the dramatic slowdown in auto OEM, the analyst tells investors in a research note. BMO adds however that with the asset sale accretive to 2025 and growth expected to restart next year as well, the firm sees PPG “pushing higher”.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PPG:
- PPG unit sale positive despite ‘underwhelming’ price, says Deutsche
- AIP confirms purchase of PPG’s architectural coatings business in U.S., Canada
- PPG price target lowered to $150 from $160 at Mizuho
- PPG to sell architectural coatings business in U.S., Canada for $550M to AIP
- PPG sees FY24 net interest expense $70M-$75M
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
