Barclays Has Higher Conviction in 'Top Pick' Owens Corning (OC)

Owens Corning (NYSE: OC) is modestly higher (+1.2%) in early trade after Barclays said they have higher conviction in the name following yesterday's Investor Day. The stock is a top pick for 2016.

Analyst Stephen Kim said they expect continued earnings beats over the next several quarters. In addition they expect investor attention to shift towards the company's latent strong free cash flow, which they said should drive outperformance given its discount to peers.

The firm reiterated an Overweight rating and price target of $56.

For an analyst ratings summary and ratings history on Owens Corning click here. For more ratings news on Owens Corning click here.

Shares of Owens Corning closed at $47.56 yesterday.

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