RBC Capital raised the firm’s price target on Owens Corning (OC) to $201 from $192 and keeps an Outperform rating on the shares, adjusting the firm’s model after the completed acquisition of Masonite (DOOR). The eventual sale of the company’s Glass Reinforcements segment is a potential driver of de-leveraging and resumption of capital returns, and while an overhang remains on the deal given the higher initial leverage and questions of strategic fit, a smooth integration and synergy capture should support the upside in the stock, the analyst tells investors in a research note.
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