Citigroup (NYSE:C) continues to hold a positive view on PPG Industries (NYSE:PPG), maintaining a 'Buy' recommendation for the company. The investment bank anticipates a significant 23.06% upside in the stock, as reported on Thursday.
PPG Industries recently announced a $0.65 dividend, translating to an attractive 1.95% yield. This move is set to benefit its major shareholders, which include JPMorgan Chase (NYSE:JPM), Wellington Management Group Llp, and Massachusetts Financial Services. Additionally, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares and HLIEX - JPMorgan Equity Income Fund Class I hold substantial stakes in the company.
The company also projects robust annual revenue figures, expecting to reach $17.768 billion. While the market awaits the unfolding of these projections, the current dividend yield and the potential stock upside provide an optimistic outlook for PPG Industries and its shareholders.
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