Deutsche Bank lifts target on PPG Industries

Deutsche is out with a $210 price target for PPG Industries (PPG +3.1%) — that's up from $195.

Analyst David Begleiter met with EVP Viktor Sekmakas who "highlighted the company's preference for M&A vs buybacks with the ~$4B of cash it will have post the sale of Transitions in H1 2014."

Begleiter says the company is "positioned to deliver 15% CAGR EPS growth in FY14-15" and notes that at 19.5X FY14E EPS, the stock has a "fair" valuation.

Buy rating reiterated.

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