Analysts Update Views on S&P Global, Sherwin, PPG

S&P Global Inc. has expanded its energy analytics capabilities with the completion of its acquisition of Enertel AI Corporation, a firm specializing in AI and machine learning-driven short-term power price forecasting for North American electricity markets.

The Enertel AI tools will be integrated into S&P Global’s Energy division, which already offers long-term power market intelligence such as benchmarks, historical pricing, and strategic forecasts. With the addition of real-time nodal price forecasts and decision tools, the platform now spans long-term outlooks and next-day pricing signals used by physical power traders, utilities, and asset operators.

A separate analysis from Simply Wall Street noted that the Enertel AI deal embeds machine learning models directly into existing power market workflows, with the potential to deepen relationships with utilities and traders if adoption is strong. The commentary highlighted that investors are likely to monitor how quickly these AI tools are rolled into existing platforms and any disclosures on Enertel-driven revenue.

S&P Global shares recently traded at $426.14, about 21% below the $538.52 average analyst price target cited by Simply Wall Street, but roughly 12.3% above that firm’s own fair value estimate. The stock has delivered a 31.4% return over three years and 26.5% over five years, while declining 13.6% over the past year and gaining 16.9% year to date, with a 30-day return of about 3.8%.

Analysts have responded to improving market conditions for S&P Global’s ratings business. BMO Capital raised its price target on S&P Global to $500 from $472 and maintained an Outperform rating, citing stronger issuance trends.

According to BMO, February billed issuance rose 22% year over year, a marked acceleration from January’s 3% increase. The report described the shift from low single-digit growth to more than 20% in a month as a sign that momentum is building in key issuance markets that underpin the company’s ratings revenue.

Another BMO Capital update raised a separate price target on S&P Global to $500 from $472, also maintaining an Outperform rating. That move was likewise attributed to strong issuance momentum in U.S. investment-grade and high-yield sectors, which are important drivers for the ratings segment.

Simply Wall Street’s assessment noted that S&P Global currently trades on a 28.5x price-to-earnings multiple versus an industry average of 27.2x, and suggested that execution on integrating Enertel AI will be an important factor to track, given the stock’s premium to its estimated fair value.

RBC Capital has adjusted its outlook on coatings manufacturers in light of macro uncertainty and geopolitical tensions. On March 19, RBC lowered its price recommendation on The Sherwin-Williams Company to $376 from $390, while reiterating an Outperform rating.

The firm said Sherwin-Williams’ markets remain choppy and warned that if the Iran conflict extends beyond eight to twelve weeks, there could be pressure on second-quarter margins. RBC also noted that the company’s capital allocation priorities are unchanged, with a continued focus on share repurchases.

Sherwin-Williams recently reported that Q4 fiscal 2025 consolidated sales rose 5.6% year over year to $5.60 billion, while full-year sales reached a record $23.57 billion. Adjusted diluted EPS increased 6.7% in the quarter to $2.23 and edged up 0.9% for the full year to $11.43. The company raised its dividend for the 47th consecutive year, now yielding about 1%, and guided for 2026 sales growth in the low to mid-single digits, adjusted EPS of $11.50 to $11.90, and plans to open 80 to 100 net new stores.

RBC has also turned more cautious on PPG Industries. On March 19, the firm trimmed its price target on PPG to $114 from $115 and kept a Sector Perform rating after meeting with the company’s Investor Relations team. RBC cited uneven demand across industrial end markets and flagged potential headwinds if the Iran conflict extends into the second quarter.

PPG recently announced a March 2 collaboration with IPG Photonics Corporation and Whirlpool Corporation to advance laser curing systems for powder coatings, targeting lower curing costs, reduced environmental impact, and faster finishing lines. The company has been building out its powder coatings footprint, now operating 21 powder manufacturing plants, seven bonding facilities, a powder resin plant, a research and development center, and a Global Center of Excellence.