RBC Capital lowered the firm’s price target on PPG to $139 from $140 and keeps a Sector Perform rating on the shares. The firm is reducing its FY24 and FY25 EPS estimates by 15c and 10c to $8.20 and $9.10 respectively to reflect the slowdown in Auto OEM and choppy demand in Europe, but also notes the strength in margins, namely in aerospace, the analyst tells investors in a research note.
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