Market Overview

UPDATE: Gilford Securities Downgrades Owens Corning to Neutral, Reiterates $43 PT Ahead of Earnings Release

Related OC
Earnings Scheduled For July 27, 2016
Goldman Updates Ratings On Owens-Corning, Other Building Materials Stocks
Owens Corning 2016 Q2 - Results - Earnings Call Slides (Seeking Alpha)

In a report published Friday, Gilford Securities downgraded its rating on Owens Corning (NYSE: OC) from Buy to Neutral, and reiterated its $43.00 price target.

Gilford Securities noted, “The shares of Owens Corning have nearly achieved our near-term price target. While $42.82 is not quite $43 its close enough for a hand-grenade and the price implied expectations are rather robust going into the earnings release on Wednesday. Given the strength of the shares recently we believe that there is no reason to initiate or increase positions into the earnings release. We believe it best to wait and take advantage of potential share weakness in the event of an in-line quarter or guidance that is conservative. We also believe that management is sensitive to guidance given in the beginning of the year. So there is additional risk that management could give prudent guidance that would be explicitly or implicitly below our street-high estimates.”

Owens Corning closed on Thursday at $42.82.

Latest Ratings for OC

Jul 2016JefferiesMaintainsBuy
Jul 2016Stifel NicolausMaintainsBuy
Jul 2016Goldman SachsUpgradesSellNeutral

View More Analyst Ratings for OC
View the Latest Analyst Ratings

Posted-In: Gilford SecuritesAnalyst Color Downgrades Analyst Ratings


Related Articles (OC)

View Comments and Join the Discussion!