PPG - PPG plunges to three-month low but analysts stay mostly supportive

PPG Industries ([[PPG]] -5.5%) is today's biggest loser on the S&P 500 after the paint company's Q2 profit missed its own April  guidance and Wall Street estimates, and its full-year forecast also disappointed."We expect PPG to be off on the results and may languish until raw supply issues are resolved and PPG demonstrates that it can catch up to inflation," BMO analyst John McNulty writes, but he does not change his Outperform rating on the stock, saying recovering end-markets and recent acquisitions should drive solid growth for PPG over the next 12 months.PPG's earnings miss on raw materials inflation and supply chain disruption is transitory, Deutsche Bank's David Begleiter believes, saying the company should enjoy a strong 2022; he reiterates his Buy rating and $205 price target, according to Bloomberg.Raw material price inflation is a negative read-through for peers such as Axalta Coating ([[AXTA]] -1.1%), RBC's Arun Viswanathan says, but "if PPG

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PPG plunges to three-month low but analysts stay mostly supportive