Owens Corning upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs analyst Susan Maklari upgraded Owens Corning to Neutral from Sell with a price target of $150, up from $113. The analyst has been “impressed” by the company’s ability to drive incremental productivity and balance production across segments as demand moderates. Given the firm’s view that housing will remain strong in the years ahead, supporting roofing and insulation volumes and price, it is increasingly confident that margins will hold ahead of historical norms, supporting a more optimistic outlook. Goldman sees limited downside risk at current share levels.