BUZZ-JP Morgan downgrades PPG Industries to 'neutral', lowers PT
ReutersFeb 12, 2025 3:02 PM
J.P. Morgan downgrades industrial coatings maker PPG Industries to "neutral" from "overweight", cuts price target to $115 from $145
PPG shares fall 1.2% to $113.60 in morning trade
Brokerage says the auto industry in 2025 is not growing, and PPG is giving up market share
Adds that weak demand in the China housing market and in the European housing markets have been headwinds
"PPG is a cyclical company, and if a recession comes on to the horizon the shares can be negatively volatile" - J.P. Morgan
Including session's moves, stock down 5.3% YTD
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