PPG's Resilient Pricing And Geographic Mix Fuels Optimism For 2H23 And Beyond, Says Analyst
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst John P. McNulty reiterated an Outperform rating on PPG Industries, Inc. (NYSE:PPG), raising the price target to $165 from $158. The company recently reported Q2 2023 net sales of $4.87 billion, beating the consensus of $4.84 billion. McNulty expects PPG to deliver double-digit EPS growth in 2H23, 24, and 25. The analyst raised Q3 EPS to $1.91 (from $1.88), reflecting a better top line in Performance Coatings. For FY23, McNulty forecasts EPS of $7.40 (vs. guide of $7.28-7.48) on similar drivers.
July 24, 2023 | 5:44 pm
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PPG Industries' price target has been raised by BMO Capital Markets analyst John P. McNulty, who expects the company to deliver double-digit EPS growth in 2H23, 24, and 25.
The analyst's positive outlook and raised price target for PPG Industries, along with the company's recent strong financial performance, could potentially drive the stock price up in the short term.
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