PPG price target raised to $158 from $151 at BMO Capital

BMO Capital analyst John McNulty raised the firm’s price target on PPG to $158 from $151 and keeps an Outperform rating on the shares. The company’s Q1 results were "solid", topping its pre-announced levels, and PPG looks to be well set up based on declining raw material costs and the management’s "conservative" guidance, the analyst tells investors in a research note. BMO continues to see solid earnings growth in the coming quarters for PPG as the company is exposed to numerous end-markets such as refinish, auto OEM, and aerospace that will "minimize the downside" in the event of a recession.