Owens Corning (OC) PT Raised to $102 at Jefferies
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Rating Summary:
17 Buy, 18 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 13 | New: 8
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Jefferies analyst Philip Ng raised the price target on Owens Corning (NYSE: OC) to $102.00 (from $95.00) while maintaining a Buy rating.
The analyst commented, "With its KC line coming on, OC should see DD growth in its resi insulation business starting in 1Q, and we've been encouraged with the recovery in industrial & commercial in technical & composites. While OC is starting to see inflation, with 3 price increases in insulation & roofing since late summer and now 8%+ increases in composites, we see a significant inflection in earnings and the stock offers very attractive value (6.8x 2021EEV/EBITDA)."
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