Citi Maintains Buy on Owens Corning

Citi is out with its report today on Owens Corning OC, maintaining Buy. In a note to clients, Citi writes, "We rate OC a Buy/High Risk. 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." Shares of OC closed Thursday at $37.59, up 0.32% from Wednesday's close.