Owens Corning (OC) PT Raised to $60 at Jefferies

Jefferies analyst Philip Ng reiterated a Buy rating and boosted his price target on Owens Corning (NYSE: OC) to $60.00 (from $56.00) following fourth quarter results.

Ng commented, "While some of the growth in insulation is muted with the company exiting a 3rd party agreement, pricing should firm up and roofing margins should expand with asphalt prices likely to take another step down with the recent move in oil. With OC reestablishing credibility with an impressive 2015 and generating strong FCF, we expect the discount it trades at vs its peers to narrow."

For an analyst ratings summary and ratings history on Owens Corning click here. For more ratings news on Owens Corning click here.

Shares of Owens Corning closed at $43.00 yesterday.

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