Owens Corning (OC) PT Raised to $139 at Jefferies
Get Alerts OC Hot Sheet
Price: $166.80 -0.25%
Rating Summary:
13 Buy, 22 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
13 Buy, 22 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Jefferies analyst Philip Ng raised the price target on Owens Corning (NYSE: OC) to $139.00 (from $132.00) while maintaining a Buy rating.
The analyst commented, "With the stock trading at 5.5x 2022 EV/EBITDA, OC doesn't get enough credit for the improved execution under the current CEO's watch and strong pricing power. With OC gaining share and the industry playing catch up with long backlogs, mgmt is confident it can grow in insulation in 2022 even w/ flat starts. While we see roofing volumes down in 2022, we don't see a big downdraft in earnings from the carryover pricing."
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