Owens Corning upped at Evercore ISI after report of Carlisle bids

[Worker Installing EPDM Roofing Material on a Residential Flat Roof During a Sunny Day]
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Owens Corning (OC [https://seekingalpha.com/symbol/OC]) was raised to outperform from in line at Evercore ISI after a report that Carlisle Cos. (CSL [https://seekingalpha.com/symbol/CSL]) has made a few unsolicited offers to acquire the roofing company.

"Whether or not a combination with CSL or anyone else ultimately takes place, we believe news of the offer can trigger a lasting revaluation for OC in in particular, increased interest in a sum-of-the-parts (SOP) analysis, like ours below, should draw attention to the undervalued nature of the company’s roofing business." Evercore ISI analyst Stephen Kim wrote in a note on Monday.

Evercore's Kim raised the price target on Owens Corning (OC [https://seekingalpha.com/symbol/OC]) to $188 from $139 based on the sum-of-parts analysis of the company.

The upgrade comes after the WSJ reported on Monday that Carlisle (CSL [https://seekingalpha.com/symbol/CSL]) offered to use a mix of cash and stock to purchase Owens Corning (OC [https://seekingalpha.com/symbol/OC]) at a significant premium [https://seekingalpha.com/news/4608189-owens-corning-gains-on-report-of-carlisle-cos-takeover-offers] to where its shares have been trading this year. Owens (OC [https://seekingalpha.com/symbol/OC]) so far hasn't engaged substantially with Carlisle (CSL [https://seekingalpha.com/symbol/CSL]).

Shares of Owens Corning jumped 15% on Monday on the WSJ report and have risen 1.9% on Tuesday. Carlisle fell 2.6% on Monday and is down 2.6% on Tuesday.

MORE ON OWENS CORNING

* Owens Corning: Trough Conditions For A Patient Investor's Setup [https://seekingalpha.com/article/4904842-owens-corning-trough-conditions-for-a-patient-investors-setup]
* Owens Corning (OC) Q1 2026 Earnings Call Transcript [https://seekingalpha.com/article/4899356-owens-corning-oc-q1-2026-earnings-call-transcript]
* Owens Corning 2026 Q1 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4899591-owens-corning-2026-q1-results-earnings-call-presentation]
* Owens Corning gains on report of Carlisle Cos. takeover offers [https://seekingalpha.com/news/4608189-owens-corning-gains-on-report-of-carlisle-cos-takeover-offers]
* Owens Corning anticipates Q2 revenue of $2.6B-$2.7B with 20%-22% adjusted EBITDA margin amid roofing price actions [https://seekingalpha.com/news/4587408-owens-corning-anticipates-q2-revenue-of-2_6b-2_7b-with-20-percentminus-22-percent-adjusted]