PPG downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital analyst Arun Viswanathan downgraded PPG Industries to Sector Perform from Outperform with a price target of $129, up from $128. The analysts cites weakness in Europe, deteriorating housing fundamentals, and global macro weakness for the downgrade. At current levels, the stock is fairly priced and there is now a greater likelihood of an earnings miss given the expected volume headwinds, Viswanathan tells investors in a research note.