JPMorgan analyst Michael Rehaut upgraded Owens Corning to Neutral from Underweight with a price target of $133, up from $95, post the Q2 results. The analyst views prior concerns regarding elevated margins as either having already played out or largely reflected in the stock. The firm sees improved earnings visibility in the near-term, a return potential more in-line with its coverage universe and a “relatively reasonable valuation” at current share levels.
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