UPDATE: Stifel Reiterates Buy Rating, Lowers PT on Owens Corning on Concerns Over Weak Roofing Volumes

Loading...
Loading...
In a report published Thursday, Stifel analyst John Baugh reiterated a Buy rating on
Owens CorningOC
, but lowered the price target from $50.00 to $45.00. In the report, Stifel noted, “Q3 results were viewed by the consensus as very disappointing. We would describe the results as only mildly disappointing. The primary consensus concern related to roofing volumes which appear to have lagged competitors' volumes, although the company believes that its nine month volumes are very close to industry results. We think roofing margins were quite good despite poor sales and arguably more important. We believe part of the recent challenge to the stock has been peer expectations that are just too rosy in light of a pathetic domestic recovery and weak overall international markets. If nothing else, these results should rein in peer estimates.” Owens Corning closed on Wednesday at $38.34.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsJohn BaughStifel
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...