Owens Corning price target lowered to $143 from $157 at Loop Capital

Loop Capital lowered the firm’s price target on Owens Corning to $143 from $157 but keeps a Buy rating on the shares. The company reported another roofing driven beat, though as solid as the quarter was, it was largely expected as channel checks are ARMA data all flashed to upside as the quarter progressed, the analyst tells investors in a research note. The firm adds that the weaker composites outlook is driving its negative estimate revisions and subsequent price-target reduction, even though its other assumptions are “mostly unchanged”.