JP Morgan analyst Terry Bivans recommended Dean Foods today:

a. shares have been oversold on fears of coming dairy inflation and current spikes in energy and resin costs.

b. dairy costs should drop year-over-year for the next 18 months, and high feed costs are likely behind the stock’s recent swoon.

c. dairy farming remains quite profitable and cuts in production are unlikely.

d. Company appears better able to pass along fuel and resin costs.

e. Substantial returns over a short horizon appear reasonable to him, and shares could appreciate by 20%-plus by yearend.

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J. Keith Johnson,MORGAN KEEGAN analyst, UPGRADED OWENS CORNING TO OUTPERFORM:

a. While Owens Corning is facing continued challenges in the building material segments, it is well positioned in its markets, and the combination of the current price, valuation and business trends offers some upside to the share price.

b. The main driver is better performance in the roofing and asphalt segment than previously forecast.

c. Improved demand as a result of storm damage thus far in 2008, and higher selling prices as a result of recently announced price increases should benefit performance of this segments.

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