KeyBanc analyst Aleksey Yefremov earlier today downgraded PPG (PPG) to Sector Weight from Overweight without a price target The firm sees a “soft patch in demand” for the chemical names with weakness in autos, refinish, industrial, as well as currency headwinds and risk of tariffs affecting raw materials, labor and supply chains in 2025. Weakness in autos appears to be extending into early 2025 and strength in China may not sustain into 2025 as incentives may be pulling demand forward, the analyst tells investors in a research note. As such, the firm does not expect Axalta and PPG shares to outperform in the first half of 2025.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
