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On Monday, Owens Corning (NYSE:OC) stock was removed from BofA’s US 1 list. This list is curated by BofA Global Research to showcase top investment ideas from Buy-rated, US-listed stocks, including ADRs. The removal comes as the stock has declined 33.5% over the past six months, though InvestingPro analysis suggests the stock is currently undervalued. The removal signifies a change in Owens Corning’s standing within BofA’s strategic investment selections.
The US 1 list is designed to highlight stocks expected to deliver strong long-term investment performance. Owens Corning’s exclusion from this list may impact investor perceptions, given the list’s focus on superior investment opportunities. Despite this development, the company maintains a strong dividend profile, having raised dividends for 6 consecutive years with a current yield of 2.06%.
BofA Global Research analysts aim to manage the US 1 list to achieve superior investment performance over time. The list is updated periodically to reflect changing market conditions and investment strategies.
Owens Corning, listed on the New York Stock Exchange under the ticker NYSE: OC, will continue to be covered by BofA’s fundamental equity research analysts, despite its removal from the list.
In other recent news, Owens Corning has shared ambitious financial targets for 2028, aiming for $12.5 billion in revenue, surpassing UBS’s projections. The company plans to maintain EBITDA margins in the mid-20% range, with specific targets for its Roofing and Insulation segments. Owens Corning has also expanded its share repurchase program, authorizing an additional buyback of up to 12 million shares, which could total roughly 21% of shares outstanding. In light of these developments, UBS has reiterated its Buy rating with a $218 target, while Jefferies has lowered its target to $172 but maintains a Buy rating. Evercore ISI has also adjusted its price target to $160, keeping an In Line rating, citing challenges in the North American residential insulation market. Benchmark has opted to maintain a Hold rating, expressing a cautious stance on the company’s ambitious goals. The company’s strategic initiatives, including a focus on roofing, insulation, and doors, were detailed during its 2025 Investor Day. Owens Corning’s management aims to leverage its contractor engagement model and shared enterprise playbook to achieve its outlined objectives.
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