Wells Fargo upgraded Owens Corning (OC) to Overweight from Equal Weight with a price target of $225, up from $195. The firm says Street estimates embed reasonable positive low single-digit growth for FY25, excluding Masonite. While Wells acknowledges that it’s still too early to assess the effect of hurricanes on roofing volumes, the firm notes that its post-Q3 conversation with Owens suggests the company is confident that price realization could potentially be stronger in the wake of hurricane activity given the capacity restraints on the category. Further, Wells believes risk of excess insulation capacity for 2025 is low, and argues that limited tariff exposure is an anecdote to key source of headline risk.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on OC:
- Reddit initiated, GE Vernova downgraded: Wall Street’s top analyst calls
- Owens Corning upgraded to Overweight from Equal Weight at Barclays
- Owens Corning raises quarterly dividend 15% to 69c per share
- Owens Corning Expands Board, Welcomes Michelle T. Collins
- Owens Corning management to meet with Loop Capital
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
