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Fly News Breaks for May 18, 2016
OC
May 18, 2016 | 07:49 EDT
Longbow analyst Garik Shmois has increased confidence in his above consensus estimates for Q2 due to better than expected roofing demand and pricing, lower asphalt costs, and potential conservative composites guidance that more than offsets transition in insulation. The analyst raised Owens' Q2 earnings estimate to 90c from 87c, versus consensus 84c, FY16 to $3.30 from $3.25, versus consensus of $3.03, and FY17 to $3.85 from $3.80, versus consensus of $3.50. Shmois rates Owens Corning a Buy with a $60 price target.
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