PPG Industries initiated with "underweight"

Analyst Andrew F Rosenfeld of Prudential Financial initiates coverage of PPG Industries Inc (PPG) with an "underweight" rating.

The target price is set to $59.

In a research note published this morning, the analyst mentions that the underlying demand momentum is expected to boost the chemical industry scenario in the near future. PPG Industries' coatings and chemicals segments are likely to drive the company’s 2003 earnings, the analyst believes. This rise in the company’s earnings is, however, likely to be offset by the increasing pension and raw material costs, the analyst adds.

600450 PPG Industries initiated with "underweight" glassonweb.com
Date: 11 December 2003
Source: New Ratings

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