PPG price target lowered to $166 from $172 at KeyBanc

KeyBanc lowered the firm’s price target on PPG to $166 from $172 and keeps an Overweight rating on the shares. PPG continues to report healthy margins amid a more challenging demand backdrop, but the firm believes buyside’s expectations called for even stronger margins, especially in the Performance segment, the analyst tells investors in a research note. The firm remaisn upbeat on the earnings setup heading into 2024.