Goldman Sachs Upgrades PPG From Neutral to Buy
Investment management firm Goldman Sachs upgraded PPG Industries'
stock recommendation from 'neutral' to a 'buy' position yesterday
based largely on the performance of its chemical, optical and aerospace
The change in status is a result of PPG's diversification and increased
sales in the chemical and coating industries, according to Goldman
Sachs. PPG's chemical and coatings industries have been identified
as having a greater potential for growth than their glass holdings.
This announcement comes approximately one month after PPG enlisted
the services of Goldman Sachs to investigate the sale of PPG's automotive
OEM glass and automotive replacement glass and services businesses.
Due to a decline in earnings over the past two years, Goldman Sachs
identified PPG's glass businesses as 'slow growth' businesses that
were not adding sufficient value to the company's growth.
HERE to read the glassBYTEs.com story on PPG's decision
to sell their autoglass businesses.
HERE for more detailed financial information.