Wells Fargo Has a Positive Outlook on Owens Corning (OC), Despite a Challenging Housing Market in 2026

Owens Corning (NYSE:OC) is one of the new stocks David Tepper has bought. As of December 29, the average price target for OC suggests an upside of 17%; however, the Street high indicates an upside of 57%. David Tepper added Owens Corning to his Q3 portfolio by acquiring 161,500 shares of the company worth $22.8 million.

On December 15, analyst Sam Reid from Wells Fargo maintained an Overweight rating on Owens Corning (NYSE:OC) but trimmed the price target from $150 to $130. According to the firm, 2025 is ending with a lot of skepticism in the housing market, which makes the outlook for 2026 challenging. Wells Fargo’s strategy is to prioritize well-valued, high-quality investments. The firm observed that riskier opportunities will come into play at some point, but now is not the right time.

Separately, on December 4, Owens Corning reported a 15% increase in its quarterly cash dividend, which now stands at $0.79 per common share. The dividend will be distributed on January 21, 2026, to shareholders of record as of January 5.

Moreover, on December 18, the company announced that it is promoting José Méndez-Andino to Executive Vice President and Chief Innovation Officer. He will focus on product innovation and designing new applications that strengthen the company’s position in the high-quality building products market.

Owens Corning (NYSE:OC) was founded in 1938 and is based in Toledo, Ohio. The company offers building products for homes and businesses, and operates through four main segments: Roofing, Insulation, Doors, and Composites.

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