Citi lowered the firm’s price target on PPG (PPG) to $145 from $150 and keeps a Buy rating on the shares. The firm updated estimates, price targets, and ratings in conjunction with its 2025 chemicals outlook. Citi maintains a “broadly neutral view” on commodity chemicals, saying most chains have some form of supply overhang and the first half of 2025 earnings are looking very similar to the second have of 2024. The firm says its top picks are reflective of confidence on long-term earnings power and durable competitive advantages at reasonable valuations in the cases of Ecolab (ECL) and Corteva (CTVA), and a “compelling” activist campaign in the case of Air Products (APD).
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Read More on PPG:
- PPG price target lowered to $145 from $152 at Evercore ISI
- PPG downgraded to Sector Weight from Overweight at KeyBanc (earlier)
- PPG completes sale of architectural coatings U.S. and Canada business
- PPG completes sale of silicas products business to QEMETICA
- PPG teams with SARO/Siccardi to expand powder coatings presence in Italy
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
