PPG Industries Shares Decline Following Downgrade
PPG Industries was downgraded to NEUTRAL from BUY by analysts at Goldman Sachs.
Shares of PPG Industries (PPG) - Get Report were lower Friday after Goldman Sachs downgraded its rating to NEUTRAL from BUY. The firm also trimmed its price target to $103 from $111 a share. The ratings change comes after the company reported in-line third quarter results on Thursday. Goldman says there are fewer catalysts left for the stock following the earnings report. Even though the firm considers the company's valuation attractive, Goldman anticipates waning global auto sales and "lackluster" European growth.
