Truist raised the firm’s price target on Owens Corning to $145 from $115 but keeps a Hold rating on the shares. The company’s Q4 earnings topped estimates, while a deeper look into the results show that all the weakness in 2023 and Q1 offsetting excellent roofing results came from the composite reinforcements business which will most likely be sold, the analyst tells investors in a research note. Truist adds however that the question continues to shift to how roofing holds up after a strong storm year in 2023.
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