Owens Corning price target lowered to $121 from $151 at Evercore ISI

Evercore ISI lowered the firm’s price target on Owens Corning (OC) to $121 from $151 and keeps an In Line rating on the shares. The company’s Q3 results came in slightly better than expected on the bottom line, despite a soft demand environment, the analyst tells investors in a research note. However, the firm said that sales are expected to decrease in the mid-to-high teens year-over-year, and FY25 and FY26 EPS estimates have been lowered to reflect the current macroeconomic challenges and demand outlook.