Goldman Sachs Upgrades Owens-Illinois (OI) to Buy, Debt Reduction to Drive Multiple
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Price: $6.38 -3.04%
Rating Summary:
9 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
9 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Goldman Sachs upgraded Owens-Illinois (NYSE: OI) from Neutral to Buy with a price target of $28.00 (from $20.00), suggesting 45% upside.
The firm said the company's FCF and new focus on debt reduction will drive its EV/EBITDA multiple back to historical average levels. In addition, since the start of 2011 the stock has underperformed the Packaging peer group and the S&P 500 by 44% and 54%, respectively.
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 $19.36 yesterday.
The firm said the company's FCF and new focus on debt reduction will drive its EV/EBITDA multiple back to historical average levels. In addition, since the start of 2011 the stock has underperformed the Packaging peer group and the S&P 500 by 44% and 54%, respectively.
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 $19.36 yesterday.
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