Evercore ISI raised the firm’s price target on Owens Corning (OC) to $188 from $172 and keeps an In Line rating on the shares. A “sullen, brooding sentiment had descended on the housing stocks over the past few months,” but the firm rebuts industry concerns and raised FY25 margin estimates and target prices for the builders under its coverage to reflect lower buyer agent commissions. Evercore also raised estimates for TopBuild (BLD), Owens Corning and Installed Building Products (IBP) to reflect the near-term benefit from a successful summer fiberglass price increase, the analyst added.
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Read More on OC:
- Owens Corning price target lowered to $189 from $190 at Barclays
- Microchip and Roblox downgraded: Wall Street’s top analyst calls
- Citi upgrades Owens Corning to Buy on ‘compelling’ valuation
- Owens Corning upgraded to Buy from Neutral at Citi
- Owens Corning price target raised to $215 from $188 at Loop Capital