Deutsche Bank analyst Joe Ahlersmeyer raised the firm’s price target on Owens Corning to $100 from $99 and keeps a Hold rating on the shares. The analyst now has increased conviction in his view that residential new construction can "remain surprisingly resilient" in 2023. He urges investors to "drop past rules of thumb" around starts, and derive forecasts for building product volumes from completions instead. With interest rate risk "now seeming to drift favorably," Ahlersmeyer is "far more constructive" on stocks with new construction exposure.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on OC:
- Owens Corning price target raised to $90 from $88 at Citi
- Owens Corning downgraded to Underweight from Neutral at JPMorgan
- Owens Corning price target lowered to $86 from $91 at Barclays
- Owens Corning completes sale of Russian operations, affirms Q4 guidance
- Owens Corning announces dividend increase, new share repurchase authorization