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Fly News Breaks for October 29, 2019
OC
Oct 29, 2019 | 08:40 EDT
As previously reported, Argus analyst John Eade upgraded Owens Corning to Buy from Hold with a $72 price target. The analyst cites the company's recent Q3 earnings beat thanks to its implementation of strategies to expand margins and grow earnings under the new CEO Brian Chambers. Eade adds that at its current price, Owens Corning trades at a 12-times forward earnings multiple vs. its peer average multiple of 17-times and believes that the "deep discount" is no longer warranted.
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