RBC Capital analyst Mike Dahl raised the firm’s price target on Owens Corning to $96 from $91 but keeps a Sector Perform rating on the shares. The analyst notes that after several quarters of upside, the company’s Composites business has seen cracks, driven by a sharp slowdown in volume and spot pricing declines looking forward. RBC added that downside on the stock remains, though this is balanced by a valuation at 6.8-times its new FY23 EBITDA.
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- Owens Corning sees ‘moderate decline of net sales’ in Q1, consensus $2.29B
- Owens Corning reports Q4 adjusted EPS $2.49, consensus $2.36
- Owens Corning price target raised to $100 from $99 at Deutsche Bank
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