PPG price target raised to $126 from $117 at JPMorgan

JPMorgan analyst Jeffrey Zekauskas raised the firm’s price target on PPG (PPG) to $126 from $117 and keeps an Overweight rating on the shares. The firm sees “hits and misses” in the company’s Q4 report. However, investors will perceive PPG as a company with an accelerating growth rate over a multi-year period, the analyst tells investors in a research note. The firm sees the stock’s multiple rising above its historical average as PPG laps a “very difficult year” in its auto refinish business and continues to grow in aerospace coatings.