Jefferies reported on Tuesday that it has raised its estimates on protective and decorative coatings supplier, PPG Industries, Inc. (PPG).
The firm has increased its estimates on PPG, and has reiterated a “Buy” rating and $163 price target on the company. This price target suggests a 18% increase from the stock’s current price of $133.89.
Looking ahead, the firm has raised its FY2013 estimates on the company by 10 cents to $6.85 per share. An analyst from the firm noted, “revisions to consensus in the next few weeks will likely be a calibration exercise, balancing a reduced share count, pending M&A and potential further buybacks that likely offset incrementally disappointing fundamentals.”
PPG shares were mostly flat during premarket trading Tuesday. The stock has increased 42% in the past year.
The Bottom Line
Shares of PPG Industries, Inc. (PPG) have a 1.76% yield, based on Monday’s closing price of $133.89.
PPG Industries, Inc. (PPG) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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