PPG downgraded to In Line from Outperform at Evercore ISI

Evercore ISI downgraded PPG Industries to In Line from Outperform with an unchanged price target of $152. The company’s Q1 provided a clearer view of some of the headwinds apparent in the portfolio as industrial is seeing pricing give backs and performance end markets largely undershot expectations, the analyst tells investors in a research note. The firm says PPG’s headwinds are intensifying and the market is likely to struggle with what multiple to apply to shares in the nearer term.