Goldman Sachs Upgrades Owens Corning to Neutral, 'Solid Execution And Improving Backdrop Support More Balanced View'

  • Investing.com
Goldman Sachs Upgrades Owens Corning to Neutral, 'Solid Execution And Improving Backdrop Support More Balanced View'
(Updated - September 7, 2023 4:01 AM EDT)

Goldman Sachs (NYSE: GS ) analyst upgraded Owens Corning (OC) from Sell to Neutral with a price target of $150.00 (from $113.00).

The analyst comments "We have been impressed by Owens Corning's ability to drive incremental productivity and balance production across segments as demand moderates. Given this, along with our view that housing will remain strong, we are turning more positive. That said, with the stock up 67% YTD and trading roughly in-line with its 5-year average, we believe much of this is fully reflected in the current valuation. As such, we are upgrading to Neutral from Sell and raising our price target to $150."

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