Owens Corning price target raised to $125 from $120 at BofA

BofA analyst Rafe Jadrosich raised the firm’s price target on Owens Corning to $125 from $120 and keeps a Buy rating on the shares. The firm raised its 2023 adn 2024 estimates by 11% and 7%, respectively to reflect higher insulation and roofing margins. The firm expects pricing to hold, even as asphalt prices decline, and believes the current valuation is attractive.