Jefferies analyst Philip Ng lowered the firm’s price target on Owens Corning (OC) to $180 from $185 and keeps a Buy rating on the shares. Though demand improved in September, competition remains high, which led to mid-single digit price declines in fiberglass insulation, says the analyst based on the firm’s checks. Jefferies is cutting Owens Corning estimates to reflect the pricing pressure and weak storm demand in roofing, the analyst noted.
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