UPDATE: Bank of America Reiterates Neutral Rating, Lowers PT on Owens Corning Due to Caution on Roofing Trends

In a report published Thursday, Bank of America analyst George L. Staphos reiterated a Neutral rating on

, but lowered the price target from $46.00 to $44.00. In the report, Bank of America noted, “We rate OC a Neutral. OC should have exposure to a recovering housing market over time, particularly in its Insulation and Roofing segments. That said, recent share loss in Roofing and performance trends in OC's other segments suggest margin trends may have more headwinds. This could lead to downward pressure in OC's valuation multiples over the intermediate term as well.” Owens Corning closed on Wednesday at $42.09.