Market Overview

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

Related OC
UPDATE: Stifel Downgrades Owens Corning As Roofing Business Is Weaker Than Anticipated
Earnings Scheduled For July 23, 2014
Owens Corning Dampens 2014 Outlook (Fox Business)

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.

Posted-In: Jefferies Philip NgAnalyst Color Initiation Analyst Ratings

 

Most Popular

Related Articles (OC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free