PPG Industries price target raised to $154 from $133 at Susquehanna Susquehanna raised its price target on PPG Industries (PPG) to reflect the acquisition of Akzo N.A. (AKZOY) architectural coatings business and the significant return of cash to shareholders after its exit of the chlor-alkali business in 2013. Shares are Positive rated.
PPG Industries' and Corning' Pittsburgh Corning reorganization plan reaffirmed PPG Industries (PPG) announced that the U.S. District Court for the Western District of Pennsylvania issued a memorandum opinion and order on Sept. 30 affirming confirmation of the current Pittsburgh Corning plan of reorganization. PPG and Corning Incorporated (GLW) are each 50% shareholders of Pittsburgh Corning, which filed for Chapter 11 bankruptcy protection in 2000. Under the plan of reorganization, PPG and its participating insurers are to make their initial payments to the trust 30 business days after the plan becomes effective and all conditions to funding have been met.