JP Morgan downgrades PPG Industries to 'neutral', lowers PT
12/02/2025 15:02
** 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
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))