Owens Corning price target raised to $165 from $150 at Truist

Truist raised the firm’s price target on Owens Corning (OC) to $165 from $150 and keeps a Hold rating on the shares. The firm notes Owens was up 6% as results came better than it expected, but Truist believes the stock moved on more robust guidance than the Street was modeling. Owens Corning is feeling the single family pressure that peers have reported, but its relatively small size and continued robust roofing demand is holding up results better than many in the firm’s coverage. The much feared roofing “over-earning” has not materialized, Truist adds. Still, pressure in residential insulation and the Doors business will limit near-term upside, it argues.