Citi downgraded PPG (PPG) to Neutral from Buy with a price target of $113, down from $132. The firm says the spike in oil prices along with supply disruptions has impacted most key raw materials for coatings. Citi cites earnings headwinds and demand uncertainty for the downgrade of PPG.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PPG: