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Fly News Breaks for June 28, 2018
OC
Jun 28, 2018 | 06:26 EDT
RBC Capital analyst Michael Eisen reiterated an Outperform rating but lowered his price target on Owens Corning to $80. The analyst notes that while he sees a material re-acceleration of earnings growth in the second half of FY18 "as higher prices take hold across the portfolio to offset input cost inflation headwinds," he is updating his model based on adjustments for price, volume, input costs, and less favorable FX outlook. Eisen adds that Owens Corning should trade at a slightly discount to the peer group given the "cyclical risk and greater input cost inflation headwinds".
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