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New Buy Rating for PPG Industries (PPG), the Basic Materials Giant

Tipranks - Tipranks - Fri May 29, 5:00AM CDT

Wells Fargo analyst Michael Sison reiterated a Buy rating on PPG Industries on May 26 and set a price target of $130.00. The company’s shares closed yesterday at $109.54.

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Sison covers the Basic Materials sector, focusing on stocks such as Albemarle, Celanese, and LyondellBasell. According to TipRanks, Sison has an average return of -1.0% and a 42.46% success rate on recommended stocks.

Currently, the analyst consensus on PPG Industries is a Moderate Buy with an average price target of $122.27.

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Based on PPG Industries’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.93 billion and a net profit of $382 million. In comparison, last year the company earned a revenue of $3.68 billion and had a net profit of $373 million

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