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UPDATE: JP Morgan Downgrades Owens Corning to Neutral

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Benzinga's Top Upgrades
Earnings Scheduled For October 26, 2016
Owens Corning declares $0.20 dividend (Seeking Alpha)

JP Morgan has published a research report on Owens Corning (NYSE: OC) and has downgraded the company from Overweight to Neutral.

In the report, JP Morgan wrote, "We are downgrading OC to Neutral from Overweight, as we believe yesterday's material lowering of its 2012 adjusted EBIT guidance, which we note follows an earlier sizeable reduction of guidance during its 2Q release on August 1, clouds near to medium term visibility for the company's Roofing and Composites segments, which we believe will not likely be positively addressed over at least the next 2-3 quarters."

JP Morgan also lowered its price target from $38 to $31.50 on Owens Corning, which is currently trading down 1.67 percent from Tuesday's $31.12 closing price.

Latest Ratings for OC

DateFirmActionFromTo
Nov 2016Evercore ISI GroupInitiates Coverage OnBuy
Oct 2016Vertical ResearchUpgradesHoldBuy
Sep 2016Wells FargoInitiates Coverage onMarket Perform

View More Analyst Ratings for OC
View the Latest Analyst Ratings

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