PPG price target raised to $142 from $140 at UBS

UBS raised the firm’s price target on PPG to $142 from $140 and keeps a Neutral rating on the shares. Investors may have been primed that there could be a cut in PPG’s guidance, and a combination of slower Industrial growth, including lower auto OEM production, make PPG’s original volume expectations more challenged, the analyst says. If industrial/auto slows further, this may not be the last cut, and that mindset could keep pressure on PPG’s stock medium term, UBS says.