Mizuho analyst John Roberts lowered the firm’s price target on PPG (PPG) to $125 from $135 and keeps an Outperform rating on the shares. The firm adjusted price targets in the chemicals and packaging group as part of a Q3 earnings preview. Futures indicate a lower U.S. natural gas-based advantage, which could weigh on petrochemical profits, the analyst tells investors in a research note. Mizuho’s top picks remain in the specialty and defensive categories. Its top picks are Sealed Air (SEE), IFF (IFF) and Ecolab (ECL).
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