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Berenberg cuts PT on PPG Industries amid automotive refinish sales uncertainty
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Berenberg has reduced its price target for PPG Industries from $131 to $110, citing uncertainty in automotive refinish sales due to factors like higher insurance premiums and fewer road accidents. The new target suggests an 8.4% upside from the last close. Currently, 12 out of 26 brokerages rate the stock as "buy" or higher, while 14 rate it as "hold." PPG's stock is down 15.1% year-to-date.
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