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RBC Capital Trims PPG Target as Macro Uncertainty Persists
RBC Capital has lowered its price target for PPG Industries, Inc. (NYSE:PPG) to $114 from $115, maintaining a Sector Perform rating due to uneven demand in industrial markets and potential headwinds from the Iran conflict. Despite this, PPG is advancing its powder coatings business, including a new collaboration to commercialize laser curing systems aimed at reducing costs and environmental impact while improving production efficiency. The company manufactures and distributes paints, coatings, and specialty products globally.