Barclays downgraded Owens Corning (OC) to Equal Weight from Overweight with a price target of $160, down from $170. The analyst moves to the sidelines following Owens’s announced acquisition of Masonite (DOOR) and exploration of strategic alternatives for its Glass Reinforcements business. The firm says the deal alters the stock’s narrative.
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Read More on OC:
- OC Upcoming Earnings Report: What to Expect?
- Owens Corning Acquires Masonite in Definitive Agreement
- M & A News: Owens Corning (NYSE:OC) to Acquire Masonite for $3.9B
- Owens Corning to acquire Masonite for $133.00 per share in cash
- Owens Corning to review strategic alternatives for GR business
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