Barclays Maintains an 'Overweight' on Owens Corning (OC); Still Believe Shares Offer Compelling Valuation

Barclays maintains an 'Overweight' on Owens Corning (NYSE: OC) price target of $39.00.

Analyst, Stephen Kim, said, "Overall, the 4Q11 results do little to alter our investment thesis on the stock; we remind investors that the company's leverage to a US housing recovery remains the major catalyst for the stock this year, and with mounting evidence that a housing recovery is taking shape, we believe the stock offers a compelling value at current levels."

NOTE - OC reported Q4 EPS of $0.40 vs. consensus of $0.50. Barclays Kim cut FY12 EPS estimates from $2.70 to $2.43.

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 $30.43 yesterday.

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