PPG price target lowered to $140 from $150 at UBS

UBS analyst Joshua Spector lowered the firm’s price target on PPG to $140 from $150 and keeps a Neutral rating on the shares. After a review of price and volume trends and updates on chemical spreads and prices, the firm’s Q2 estimates are reduced about 2% in aggregate across its North American Chemicals coverage, the analyst tells investors in an earnings preview note for the group.