Mizuho Securities has revised its price target for PPG Industries (PPG, Financial), decreasing it from $140 to $118 while maintaining an Outperform rating. This adjustment is part of a broader reevaluation across the chemicals, agriculture, and packaging sectors due to recent contractions in market valuation multiples.
Although the firm does not foresee an impending recession, it has modestly adjusted forward year estimates. A notable concern is the decrease in oil prices, which may lessen the cost benefits linked to gas for many basic chemical companies. Additionally, Mizuho pointed out that the advance purchasing seen in the automotive and electronics sectors during the March quarter could pose a short-term risk of demand reduction.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 22 analysts, the average target price for PPG Industries Inc (PPG, Financial) is $128.69 with a high estimate of $166.00 and a low estimate of $104.00. The average target implies an upside of 27.63% from the current price of $100.83. More detailed estimate data can be found on the PPG Industries Inc (PPG) Forecast page.
Based on the consensus recommendation from 28 brokerage firms, PPG Industries Inc's (PPG, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for PPG Industries Inc (PPG, Financial) in one year is $128.25, suggesting a upside of 27.19% from the current price of $100.83. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the PPG Industries Inc (PPG) Summary page.
