Owens Corning gets bullish coverage from Jefferies

|About: Owens Corning (OC)|By:, SA News Editor

Jefferies initiates Owens Corning (OC -0.6%) at Buy.

Analyst Philip Ng cites valuation, as the shares trade "at a 25% discount" to peers.

Also mentioned in the note: The company's strong balance sheet, "good operating leverage" in the insulation business, and the possibility OC will return cash to shareholders next year.

Price target is $55, a 43% premium to Wednesday's close.