Owens Corning price target raised to $111 from $96 at RBC Capital

RBC Capital raised the firm’s price target on Owens Corning to $111 from $96 and keeps a Sector Perform rating on the shares after its Q1 earnings beat. The company reported a robust beat in Insulation and Roofing and offered a solid Q2 guide, which more than offsets Composites weakness, the analyst tells investors in a research note. RBC adds however that its neutral stance is due to the continued risks around both residential and evolving non-residential uncertainty, even though it leans "more positive" on potential unwind of negative buy-side positioning.