PPG - PPG Industries Investors Are Concerned Margin Cycle Turning Lower Says Analyst | Benzinga
KeyBanc analyst Aleksey Yefremov reiterated an Overweight rating on the shares of PPG Industries Inc (NYSE:PPG) and lowered the price target from $164 to $162 after the first-quarter FY24 earnings.
The company reported quarterly adjusted earnings of $1.86 per share, in line with the analyst estimate, whereas the quarterly sales came in at $4.31 billion, which missed the analyst consensus estimate of $4.43 billion.
Volumes have yet to see a material improvement, although the improvement trend over the last few quarters is convincing, said the analyst.
The analyst views the flat result in the quarter to be ...