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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on OC:
- Owens Corning Is Worried About This – Should You Be Worried Too?
- Owens Corning sees Q1 sales ‘slightly below’ last year, consensus $2.32B
- Owens Corning reports Q4 adjusted EPS $3.21, consensus $2.85
- Masonite downgraded to Hold from Buy at Deutsche Bank
- Owens Corning downgraded to Equal Weight from Overweight at Barclays
