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Fly News Breaks for October 17, 2018
OC
Oct 17, 2018 | 08:43 EDT
As previously reported, Credit Suisse analyst Susan Maklari downgraded Owens Corning to Neutral from Outperform and lowered her price target on the shares to $57 from $66. The analyst looks for expansion in housing to moderate in 2019 as buyers adjust to rising rates and elevated home prices. As such, she also expects the pace of gains within Owens Corning's new construction end markets will follow a similar path. Specifically, while industry utilization rates in fiberglass insulation will remain elevated, the rate of price increases is likely to slow off more difficult comps, she contends. Additionally, Maklari believes inflation will likely remain a factor, increasing the need to realize price and maintain cost controls across the company.
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