Barclays Reiterates an 'Overweight' on Owens Corning (OC); Quarterly Preview From Investor Meeting
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Price: $44.21 -0.47%
Rating Summary:
12 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
12 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade OC Now!
Barclays reiterates an 'Overweight' on Owens Corning (NYSE: OC) price target of $42.00.
Analyst, Stephen Kim, said that the increased pressure on OC shares has been escalating pessimism for Q2 sales and margin trends. However, Kim thinks that if OC misses slightly, it might still have a positive reaction to the stock.
Kim concluded by saying, "We believe that Street estimates are likely to migrate
down to our level over the next several weeks, and once expectations are properly
reset, OC should be poised to outperform." (Q2 EPS estimate lowered from $0.64 to $0.58 and Q3 from $0.77 to $0.73. FY12 EPS cut from $1.88 to $1.79, but FY13 maintained at $3.03.
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 $27.25 yesterday, with a 52 week range of $18.67-$38.94.
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Analyst, Stephen Kim, said that the increased pressure on OC shares has been escalating pessimism for Q2 sales and margin trends. However, Kim thinks that if OC misses slightly, it might still have a positive reaction to the stock.
Kim concluded by saying, "We believe that Street estimates are likely to migrate
down to our level over the next several weeks, and once expectations are properly
reset, OC should be poised to outperform." (Q2 EPS estimate lowered from $0.64 to $0.58 and Q3 from $0.77 to $0.73. FY12 EPS cut from $1.88 to $1.79, but FY13 maintained at $3.03.
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 $27.25 yesterday, with a 52 week range of $18.67-$38.94.
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