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

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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
Mar 2021Wolfe ResearchInitiates Coverage OnPeer Perform
Mar 2021Truist SecuritiesMaintainsBuy
Mar 2021Goldman SachsDowngradesBuySell

View More Analyst Ratings for OC
View the Latest Analyst Ratings

 

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Posted-In: Jefferies Philip NgAnalyst Color Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
GDWolfe ResearchDowngrades
QRTEAB of A SecuritiesInitiates Coverage On
ABB of A SecuritiesDowngrades42.0
VCTRB of A SecuritiesUpgrades32.0
BSIGB of A SecuritiesUpgrades27.0
View the Latest Analytics Ratings
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