Owens Corning price target raised to $155 from $120 at Argus

Argus analyst John Eade raised the firm’s price target on Owens Corning to $155 from $120 and keeps a Buy rating on the shares after its Q2 earnings beat. The housing and construction markets have been strong in recent quarters, though higher interest rates could slow them somewhat, the analyst tells investors in a research note. Roofing is currently struggling, but Insulation and Composites continue to grow, the firm states. Argus further notes that the deep discount of Owens Corning shares relative to other building supply companies is no longer warranted.