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PPG Industries (PPG +0.9%) pops after Deutsche Bank upgrades shares to Buy from Hold: "With the...
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Friday, July 20, 2012, 11:29 AM ETPPG Industries (PPG +0.9%) pops after Deutsche Bank upgrades shares to Buy from Hold: "With the tax-efficient divestiture of its commodity chlor-alkali business (19% of '12E EBIT), PPG will become a pure-play coatings and optical company with peer group valuations of 16.3x and 26.5x respectively. Given this, our SOTP target multiple of 17.5x (vs 14x today) looks achievable."
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