Market Overview

UPDATE: Jefferies Initiates Coverage on Owens Corning on Most Compelling Risk/Reward

Related OC
Earnings Scheduled For October 21, 2015
Benzinga's Top Initiations

In a report published Thursday, Jefferies analyst Philip Ng initiated coverage on Owens Corning (NYSE: OC) with a Buy rating and $55.00 price target.

In the report, Jefferies noted, “We are initiating coverage on OC with a Buy, and believe it has the most compelling risk reward in the group with shares trading at a 25% discount to the sector. With the issues in Composites resolved and good operating leverage in Insulation, the company is well positioned heading into 2014. Further, with its balance sheet in good shape and ~100% FCF conversion rate, we believe OC will return cash back to shareholders in 2014.”

Owens Corning closed on Wednesday at $39.20.

Latest Ratings for OC

Oct 2015SunTrust Robinson HumphreyDowngradesBuyNeutral
Oct 2015BarclaysMaintainsOverweight
Oct 2015Goldman SachsInitiates Coverage onSell

View More Analyst Ratings for OC
View the Latest Analyst Ratings

Posted-In: Jefferies Philip NgAnalyst Color Initiation Analyst Ratings


Related Articles (OC)

Get Benzinga's Newsletters