PPG price target lowered to $138 from $139 at Citi

Citi analyst P.J. Juvekar lowered the firm’s price target on PPG to $138 from $139 and keeps a Neutral rating on the shares post the Q4 results. The company issued "tough" Q1 guidance and its volumes were "tepid" to finish the year due to softer manufacturing activity in key markets, coupled with COVID impacts in China, the analyst tells investors in a research note. March is historically a strong month in the Chinese market, but that is likely to change this year given a second wave of COVID infections after the Chinse New Year, Citi contends.