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4 stories mentioning OCUpdated 44d ago

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Research

Research Alert: CFRA Maintains Hold Opinion On Owens Corning With A $136 Target Price

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our target price of $136. Our target is an average of a forward P/E of 8.5x our 2027 EPS view of $12.72 ($108) and our DCF model, using a terminal growth rate of 2.5%, WACC of 7.1%, and 10-year FCFF CAGR of 7.7% ($164). Q1 was particularly weak across all segments, with revenues down 10% and EBITDA down 35%. Margins also compressed 600 basis points, however looking through the weakness, Q2 margins are expected to improve to the 20-22% range ($2.6B-$2.7B). This in combination with the glass reinforcements sale ($280M in cash) being completed may be why shares are responding positively in pre-market trading.

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Wire

RBC Capital Adjusts Owens Corning Price Target to $148 From $134, Maintains Outperform Rating

RBC Capital Adjusts Owens Corning Price Target to $148 From $134, Maintains Outperform Rating

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Research

Research Alert: Oc Q1 Pressured By Broad Weakness; Guides Higher Q2 Margins Post-divestiture

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Owens Corning reported Q1 sales of $2.265B (-10% Y/Y) with adjusted EPS of $1.22 as broad-based weakness hit all segments, with Roofing declining 14% to $960M, Insulation falling 5% to $867M, and Doors dropping 12% to $475M. EBITDA margins compressed by 600 bps across segments, with consolidated margin at 16%, while operating cash flow turned negative at $(154)M and FCF deteriorated to $(387)M. The company completed the strategic sale of its glass reinforcements business for ~$280M in cash, with proceeds funding organic growth and shareholder returns as OC pivots to a focused building products platform. Management guided Q2 revenue of $2.6B-$2.7B with adjusted EBITDA margin of 20%-22% (versus 16% in Q1), expecting $60M in inflationary headwinds from the Iran conflict. Residential construction and discretionary remodeling markets are expected to remain under pressure, with roofing demand slightly down absent major storm activity, though potential $25M tariff refunds provide upside not included in guidance.

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Wire

BofA Securities Lowers Price Target on Owens Corning to $138 From $140

Owens Corning (OC) has an average rating of overweight and mean price target of $137.75, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $122.33, Change: $-0.51, Percent Change: -0.42%

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