Fly News Breaks for August 11, 2016
OC
Aug 11, 2016 | 07:16 EDT
Credit Suisse analyst Mathew Bouley initiated Owens Corning with an Underperform and $51 price target. The analyst believes re-roof demand will be challenged for a longer period than expected due to an extended replacement cycle, Roofing margins could come under pressure with further shingle price declines and reduced asphalt deflation tailwinds, further risk to Insulation from moderating pricing, and slowing global IP. Bouley sees risk to consensus estimates and is 2% below Street estimates in 2017.
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