Wells Fargo Upgrades O-I Glass Inc. (OI) to Overweight

Wells Fargo analyst Gabe Hajde upgraded O-I Glass Inc. (NYSE: OI) from Equal Weight to Overweight with a price target of $13.00.

The analyst comments: “OI shares were punished following the Q1 miss + guide down, finishing the week -11% (vs. XLB -1%) & are now near historic lows ex-COVID era. We see this as an attractive entry pt as we cont to see EBITDA growth in '27 propelled by self-help, even in a soft demand environment. We note shares are currently priced at just 4.4x our '27E EBITDA, which is ~10% below guide. We u/g shares to OW (from EW) but keep our $13 PT (5.4x '26E EBITDA). Our ’26/’27 EBITDA ests move to $1.15/$1.31B.

Though we understand investor frustration over the Q1 perf + guide down (heavily driven by Eur fundamentals & energy costs), we also highlight that the EBITDA trajectory driven by self-help initiatives remains quite favorable. Successful Fit-to-Win implementation is exp'd to add $275MM to '26 EBITDA and an incremental $150MM in '27. While modeling vols -LSD in '26 & ~flat in '27, our $1.31B EBITDA est for '27 implies 14% y/y growth.”

For an analyst ratings summary and ratings history on O-I Glass Inc. click here. For more ratings news on O-I Glass Inc. click here.

Shares of O-I Glass Inc. closed at $9.49 yesterday.

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