PPG Industries

PPG · NYSE

$108.61+$1.06 (+0.99%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $107.55

PPG analyst rating

BuyConsensus of 13 analysts over the last 12 months. 62% rate it a buy.

Strong buy0
Buy8
Hold5
Underperform0
Sell0

12-month price target · 25 analysts

Average $128.54 (+18.3% upside)

Low: $116.15
Now: $108.61
High: $144.90

Upgrades and downgrades

The latest rating actions, newest first

PPG analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 13, 2026	Initiates	Overweight	$136.00	50%
RBC Capital	Oct 9, 2026	Maintains	Sector Perform	$122.00 → $115.00	46%
UBS	Oct 5, 2026	Maintains	Neutral	$125.00 → $116.00	49%
Keybanc	Sep 11, 2026	Initiates	Overweight	$133.00	30%
UBS	Jul 30, 2026	Maintains	Neutral	$130.00 → $125.00	49%
Citigroup	Jul 30, 2026	Maintains	Neutral	$125.00 → $121.00	53%
RBC Capital	Jul 30, 2026	Maintains	Sector Perform	$129.00 → $122.00	46%
B of A Securities	Jul 17, 2026	Upgrade	Neutral → Buy	$127.00 → $134.00	48%
RBC Capital	Jul 8, 2026	Maintains	Sector Perform	$119.00 → $129.00	46%
BMO Capital	Jul 6, 2026	Maintains	Outperform	$140.00 → $138.00	50%

The case for and against

Updated Oct 7, 2026

Bull case

PPG Indus is attractive because its broadest-in-class aerospace portfolio spans sealants, transparencies, engineered materials, and coatings, making it a trusted partner for OEMs and enabling share gains where competitors are more narrowly focused. Its innovation pipeline is also a key edge, with products like PRC Seal Caps, ARE 3D Printed Sealants, and AEROCRON supporting customer savings and faster production cycles, while the company continues to manage price/cost effectively through up to 20% price increases and pricing power against elevated raw material inflation. The positive outlook is further supported by a Q1 adj. EPS pre-announcement of $1.83 versus $1.65/$1.70 estimates, Q2 organic sales and EPS guidance of flat to +lsd%, and the accretive $65M Ozark Materials acquisition that expands its Traffic Solutions footprint.

Bear case

PPG Indus is viewed as fairly valued because its EV/EBITDA multiple sits slightly below a historical average of about 14.5x, yet the market has little reason to assign a premium amid ongoing volume headwinds, weak global demand, and a slow US DIY market. The outlook is further constrained by international softness in Europe, sluggish Auto OEM demand, and macroeconomic weakness, even as price/cost and margin benefits from deflating raw materials and a company-wide price increase are already reflected in estimates. Although aerospace and refinish remain growth areas, the core business mix appears challenged and mixed in FY25, with US general industrial and Pro architectural DIY weakness likely to pressure volume growth.

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