Citi Maintains Buy on Owens Corning

Citi is out with its report today on Owens Corning OC, maintaining Buy. In its report, Citi writes, "We rate OC a Buy. Our analysis suggests that the market is valuing OC's profitable segments at a moderate discount to fair value and is effectively assigning no value to its currently unprofitable businesses. As the housing cycle and broader economic cycle improve, we think that OC's normalized earnings power will become more evident and that the stock will trade up in response." Citi maintains a $47 PT on OC. Shares of OC closed Monday at $28.59, up 2.36% from Friday's close.