PPG price target raised to $140 from $120 at Morgan Stanley

Morgan Stanley analyst Vincent Andrews raised the firm’s price target on PPG to $140 from $120 and keeps an Equal Weight rating on the shares as the firm is raising its earnings estimates following the company’s positive pre-announcement. The Q1 results guided toward are ahead of the firm’s expectations and likely removes the risk that it had seen earlier this year that 2023 consensus forecasts were too high, the analyst tells investors.