** Shares of global paint supplier PPG Industries PPG.N rise 4% to $108.01 premarket

** Co beat Q1 profit estimates on higher sales at its performance coatings segment

** PPG posts Q1 adjusted profit of $1.72/shr vs analyst expectation of $1.62/shr- data compiled by LSEG

** Performance coatings segment net sales rose to $1.27 billion compared with $1.18 billion a year earlier

** PPG expects to deliver $75 million in annual savings this year, along with additional cost management actions

** Brokerage Mizuho raises price target to $125 from $118; implying a 20.4% upside to stock's last close

** As of last close, company's shares are up 29.7% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))