KeyBanc analyst Aleksey Yefremov lowered the firm’s price target on PPG to $153 from $162 and keeps an Overweight rating on the shares. The firm notes PPG’s flat volumes in Q2 came up short of its low single-digit growth guidance on the shortfall in auto OEM coatings, European architectural. This is likely to echo through this earnings season, in KeyBanc’s view, as growth expectations for the second half of 2024 reset lower.
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