BMO Capital analyst John McNulty maintained a Buy rating on PPG Industries yesterday and set a price target of $131.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
John McNulty has given his Buy rating due to a combination of factors surrounding PPG Industries’ performance and future prospects. Despite reporting earnings per share that aligned with expectations and a slight year-over-year decline, PPG Industries demonstrated strong organic and volume growth, which was a positive indicator in a challenging market environment. The company’s performance segment showed robust profit growth, which was a significant factor in the positive outlook.
Moreover, while some areas like Global Architectural disappointed, the overall sales performance exceeded expectations, particularly in the Performance segment. The company’s strategic moves, such as exiting the U.S. Architectural business, are seen as beneficial for improving margins and growth potential. Additionally, PPG Industries is well-positioned to capitalize on trends such as growth in electric vehicles, increased can packaging due to sustainability trends, and ramping aerospace build rates, all of which contribute to a favorable long-term growth trajectory.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $135.00 price target.