Owens Corning (OC) PT Raised to $172 at Evercore ISI

Evercore ISI analyst Stephen Kim raised the price target on Owens Corning (NYSE: OC) to $172.00 (from $154.00) while maintaining a In Line rating.

The analyst comments "Overall, OC reported another solid quarter, with beats on both the top and bottom line. Roofing volumes are expected to be less volatile than the industry this year, which should drive relative outperformance in 2Q, while NA insulation pricing should improve on the back of a recently announced June increase. That said, macro pressure overseas, particularly in Composites, will be an offsetting headwind in 2H. Moreover, the integration of Masonite, which is expected to close mid-year, brings increased execution risk and will temporarily diminish the company’s share repurchase activity."

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