Owens Corning (OC) Possible Upside From Lawsuit - Jefferies

Jefferies analyst, Philip Ng, thinks there could be upside to his earnings forecast if Owens Corning (NYSE: OC) settles a now pending lawsuit rather than going through a lengthy trial.

OC has filed a lawsuit against TopBuild related to the contract dispute it cited on its last call. Based on the court filing, lost sales are estimated to be in the $165 - 170 mil range on a FY basis. The analyst believes the lawsuit is part of an ongoing negotiation process that will most likely result in a resolution to the contract dispute outside of the court system, which could provide upside to the forecast.

No change to Buy rating or $61 PT.

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 $49.97 yesterday.

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