Keybanc Restarts Coverage on PPG Industries as a “Hold” (PPG)

Date: 4 October 2011
Paint, coatings, and chemicals maker PPG Industries, Inc. ( PPG ) on Friday saw their coverage reinstated by analysts at Keybanc.

The firm said it has started coverage once again on PPG with a "Hold" rating.

A KeyBanc analyst commented, "The second largest global paints and coatings player behind Akzo-Nobel, PPG's geographic and business diversification places it in an enviable position in the global paints and coatings industry. Particularly, we sense that the positive momentum in the Company's aerospace, automotive and optical coatings businesses, coupled with its commodity chemical business, should benefit earnings through at least 2012 given ramping aircraft build rates, favorable pricing and encouraging growth prospects in the developing economies. A strong balance sheet and cash flow should support further acquisition activity and share buybacks going forward."

PPG Industries shares, which have fallen about 14% year-to-date, were unchanged in premarket trading Friday.

The Bottom Line

Shares of PPG Industries ( PPG ) have a 3.15% dividend yield, based on last night's closing stock price of $72.35. The stock has technical support in the $65-$68 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels.

PPG Industries, Inc. ( PPG ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Read more:

600450 Keybanc Restarts Coverage on PPG Industries as a “Hold” (PPG)

See more news about:

Others also read

New STEM education facility at Carnegie Science Center targeted to open in 2018.
PPG has designed and produced windows for the Breakthrough Laminar Aircraft Demonstrator in Europe (BLADE), a Clean Sky Smart Fixed Wing Aircraft Integrated Technology Demonstrator (SFWA ITD).
PPG reaches agreement with Nippon Electric Glass for sale of remaining fiberglass operations.
PPG and Vision Systems have reached a commercial agreement to work together on developing new applications utilizing Vision Systems’ electronically dimmable window shading solutions for aircraft.
Annual conference for decorated glass and ceramics set for Pittsburgh, April 22-24.
$55 million investment to enable production of jumbo-sized energy-efficient glass

Add new comment