PPG price target raised to $143 from $133 at RBC Capital

RBC Capital analyst Arun Viswanathan raised the firm’s price target on PPG to $143 from $133 but keeps a Sector Perform rating on the shares. The analyst cites the company’s Q1 earnings guidance raise as margin recovery accelerated in the quarter thanks to higher sales volumes and additional selling price capture, the analyst tells investors in a research note. The firm adds that earnings were seen across most of the portfolio, including Europe, and volumes were better in China due to fewer pandemic disruptions than originally expected. RBC further states that it would turn more bullish if demand and volume visibility improves through 2023.