PPG price target lowered to $120 from $128 at RBC Capital

RBC Capital analyst Arun Viswanathan lowered the firm’s price target on PPG (PPG) to $120 from $128 and keeps a Sector Perform rating on the shares after its Q4 earnings miss. The company is seeing headwinds in Auto and industrial weakness, but still expects volume stabilization, strong Mexican/Chinese markets, market share gains, and $60M cost savings in 2025, the analyst tells investors in a research note. RBC adds however that following the results, the firm is lowering its FY25 EPS view to $7.85 from $8.56 and its FY26 view to $8.55 from $9.08.