Owens Corning Analysts Boost Their Forecasts Following Upbeat Q2 Results

Owens Corning Inc OC reported better-than-expected second-quarter results.

Owens Corning second-quarter FY23 net sales inched down by 1.5% year-over-year to $2.56 billion, beating the consensus of $2.54 billion. Adjusted EPS was $4.22, above the consensus of $3.23.

Owens Corning shares gained 5.9% to close at $138.51 on Wednesday, and added 1.1% in today’s pre-market trading session.

These analysts made changes to their price targets on Owens Corning following earnings announcement.

• RBC Capital boosted the price target on Owens Corning from $135 to $168. RBC Capital analyst Mike Dahl upgraded the stock from Sector Perform to Outperform.
• Barclays increased the price target on Owens Corning from $161 to $185. Barclays analyst Matthew Bouley maintained an Overweight rating.

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