Market Overview

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

Share:
Related OC
Barclays 'Increasingly Convinced' In Owens Corning; Upgrades To Overweight
Earnings Scheduled For February 11, 2015

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

DateFirmActionFromTo
Apr 2015CitigroupMaintainsNeutral
Mar 2015BarclaysUpgradesEqual-weightOverweight
Feb 2015CitigroupMaintainsNeutral

View More Analyst Ratings for OC
View the Latest Analyst Ratings

Posted-In: Jefferies Philip NgAnalyst Color Initiation Analyst Ratings

 

Related Articles (OC)

Around the Web, We're Loving...