Barclays Reiterates an 'Overweight' on Owens Corning (OC); Quarterly Preview From Investor Meeting
Tweet Send to a FriendGet Alerts OC Hot Sheet
Price: $44.53 --0%
Rating Summary:
12 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 25 | New: 12
Rating Summary:
12 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 25 | New: 12
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Bumps PT on Home Depot (HD) to $91
- Jefferies Raises Numbers on hhgregg (HGG), But Remains on Sidelines
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Barclays
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
