Wells Fargo analyst Sam Reid maintained a Buy rating on Owens Corning yesterday and set a price target of $170.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Sam Reid’s rating is based on several positive developments in Owens Corning’s recent performance and outlook. The company’s Q2 results exceeded expectations, particularly in the Roofing segment, which saw better-than-anticipated volumes and price realizations. This was attributed to improved contractor engagement and some inventory restocking, which helped the company outperform industry benchmarks.
Despite some challenges in the Insulation segment, where volumes were down and price/cost dynamics remain unfavorable, the overall risk-reward profile appears attractive against muted market perceptions. The positive momentum in Roofing, combined with stable revenue expectations and favorable price/cost dynamics for the upcoming quarter, supports the Buy rating. Additionally, Owens Corning’s efforts to achieve synergy targets in its Door segment, despite tariff impacts, further bolster confidence in its future performance.
Reid covers the Consumer Cyclical sector, focusing on stocks such as Toll Brothers, PulteGroup, and DR Horton. According to TipRanks, Reid has an average return of 7.6% and a 63.48% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $173.00 price target.