PPG Industries Gets a Buy from Jefferies

By Austin Angelo

In a report released today, Laurence Alexander from Jefferies reiterated a Buy rating on PPG Industries (NYSE: PPG), with a price target of $120. The company’s shares closed yesterday at $105.39.

According to TipRanks.com, Alexander is a top 100 analyst with an average return of 13.6% and a 66.8% success rate. Alexander covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Commercial Metals Company, and GCP Applied Technologies.

PPG Industries has an analyst consensus of Moderate Buy, with a price target consensus of $110.33.

PPG Industries’ market cap is currently $26.87B and has a P/E ratio of 62.81. The company has a book value ratio of 5.6196.

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PPG Industries, Inc. engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates its business through the following segments: Performance Coatings, Industrial Coatings, and Glass. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses. The Industrial Coatings segment includes automotive OEM, industrial coatings, packaging coatings, and specialty coatings and materials businesses. The Glass segment deals with the flat glass and fiber glass businesses. The company was founded was founded by John B. Ford and John A. Pitcairn in 1883 and is headquartered in Pittsburgh, PA.