Owens Corning rises after Citigroup upgrades to 'buy'
11/07/2024 13:47
** Construction materials company Owens Corning's shares
OC.N rise 1.4% to $169.50 premarket
** Citigroup upgrades OC to "buy" from "neutral", lifts PT
to $191 from $178
** Brokerage expects roofing segment given storm
expectations along with pricing upside in composite and doors
segments to offset potential housing construction headwinds in
insulation segment
** "Valuation is further supportive with OC trading at a
structural discount to peers" - brokerage
** Seven brokerages rate the stock "buy" or higher, eleven
"hold"; their median PT is $188.91 - LSEG data
** Stock had risen 12.8% YTD
(Reporting by Aatreyee Dasgupta)
((Aatreyee.Dasgupta@thomsonreuters.com))