Mizuho Affirms 'Outperform; Rating on PPG Industries (PPG) on Organic Growth Prospects

PPG Industries, Inc. (NYSE:PPG) is one of the best chemical stocks to buy, according to billionaires. On June 23, Mizuho reiterated an ‘Outperform’ rating on the stock and a $125 price target. The bullish stance is in response to the research firm’s meeting with the company’s CFO, Vince Morales, and Director of Investor Relations, Alex Lopez.

Following the meeting, PPG management acknowledged the lack of organic growth, citing an increased focus on mergers and acquisitions. However, the focus has since shifted towards accelerating organic growth with plans to achieve 2% to 4% growth. Mizuho has since maintained its earnings estimates for PPG Industries with no changes on financial projections.

In addition, the research firm is impressed by the company’s commitment to returning value to shareholders, depicted by 54 consecutive years of dividend payments. Share Buybacks have also emerged as a key priority for capital deployment.

PPG Industries, Inc. (NYSE:PPG) is a chemicals company that supplies paints, coatings, optical products, and specialty materials. It serves various industries, including industrial, transportation, consumer products, and construction, with products designed to protect and enhance surfaces.

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Disclosure: None. This article is originally published at Insider Monkey.