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KeyBanc Starts Owens-Illinois (OI) at Hold

April 11, 2012 7:13 AM EDT Send to a Friend
Get Alerts OI Hot Sheet
Price: $31.54 -2.8%

Rating Summary:
    7 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 7
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KeyBanc initiates coverage on Owens-Illinois (NYSE: OI) with a Hold.

Analyst, Adam J. Josephson, said, "We think the stock is fairly valued and we have concerns about the volatility inherent in the Company’s business model. The stock is trading at an unlevered free cash flow yield of roughly 6% (in line with the group) based on our 2012 and 2013 estimates, and we point out that our free cash flow estimates for 2012 and 2013 imply that the Company will come close to matching its peak free cash flow years of 2007-2009 (after subtracting dividends to non-controlling interests). Also, the Company is susceptible to fluctuations in the economy given its high fixed-cost model and resulting operating leverage, and Europe is its largest segment."

For an analyst ratings summary and ratings history on Owens-Illinois click here. For more ratings news on Owens-Illinois click here.

Shares of Owens-Illinois closed at $22.01 yesterday.




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