Analyst Vincent Andrews of Morgan Stanley maintained a Hold rating on PPG Industries (PPG – Research Report), retaining the price target of $128.00.
Vincent Andrews has given his Hold rating due to a combination of factors influencing PPG Industries’ performance. The updated estimates reflect favorable foreign exchange movements since the last quarter, which have slightly improved the company’s financial outlook. Additionally, there is an upward revision in the Industrial segment volumes, driven by increased auto production forecasts and modest improvements in global industrial production.
However, these positive factors are partially offset by a downward revision in the Architectural segment volumes, primarily due to uncertainties surrounding US/Mexico trade relations. Furthermore, while the raw material outlook remains largely unchanged, there is potential for additional cost pressures due to incremental inflation expected in the latter half of the year. These mixed factors contribute to the decision to maintain a Hold rating on PPG Industries’ stock.