Northcoast analyst Kevin Hocevar raised his price target on Owens Corning to $64 and kept his Buy rating, saying that the falling oil price could have a typically positive impact on the price-to-cost dynamic in the company's Roofing segment. The analyst notes that if oil prices stay at current levels and the asphalt to oil spread reverts to the mean in the coming months, Owens Corning's asphalt inflation headwind estimate can be lowered to $25M in 2019 from his prior view of $60M. For 2018, Hocevar adds that under the assumption of asphalt cost moving down to long-term spread with oil immediately, the estimated $64M headwind becomes a $64M tailwind.