UPDATE: Longbow Research Upgrades USG Corporation to Buy, Names $28 PT on Favorable Risk/Reward

In a report published Wednesday, Longbow Research analyst Garik Shmois upgraded the rating on

from Neutral to Buy, and named a $28.00 price target. In the report, Longbow Research noted, “We are upgrading USG shares to a BUY, $28 12-month target price. We think with the shares down 19% ytd, the risk/reward at current levels is favorable. We see valuation support, stabilizing commercial trends and wallboard pricing upside, as positive catalysts. As the shares have found support at $21-$22 and have recently approached these levels, we think USG has a better 12 month outlook than the Street currently anticipates.” USG Corporation closed on Tuesday at $23.49.