PPG price target raised to $167 from $166 at KeyBanc

KeyBanc analyst Aleksey Yefremov raised the firm’s price target on PPG to $167 from $166 on stronger earnings, while keeping an Overweight rating on the shares. The firm says PPG remains on its 2024 wish list as margins are likely to expand further owing to improved raw material costs, as well as stronger pricing and volumes. KeyBanc acknowledges softness in construction and industrial markets but expects recoveries in transportation, packaging, and protective and marine to more than offset these declines.