Jefferies Ratchets Up Price Target On Owens Corning (NYSE: OC)

Jefferies & Co. is raising its price target on shares of Owens Corning OC to $44 from $36, and it has a Buy rating on shares. In a note to clients, Jefferies writes, "Owens Corning's fourth quarter earnings results beat our expectations and consensus estimates. The company continues to battle challenging conditions in its Building Materials segment while delivering solid results in Composites. We expect operating leverage, international opportunities, and pricing initiatives to drive results." Shares of OC are up 56 cents in early Thursday trading to $37.00, a gain of 1.5%.