PPG price target raised to $165 from $158 at BMO Capital

BMO Capital analyst John McNulty raised the firm’s price target on PPG to $165 from $158 and keeps an Outperform rating on the shares. The company put up another solid quarter with earnings benefiting from falling raw materials, the analyst tells investors in a research note. With a number of solid end markets and improving price/raws driving margin expansion, PPG should be able to deliver double-digit earnings growth, BMO added.