Information Provided By:
Fly News Breaks for December 4, 2018
OI
Dec 4, 2018 | 08:04 EDT
As previously reported, KeyBanc analyst Adam Josephson downgraded Owens-Illinois to Underweight from Sector Weight, with a $16 price target. The analyst notes that the company has struggled to grow volume in recent years and experienced substantial demand declines in the Great Recession. The combination of protracted volume weakness and high fixed costs is a sub-optimal one, and particularly given slowing global growth, he contends. While the stock is trading slightly below its 5-year average on an absolute and relative basis, Josephson expects consensus estimates to decline and therefore have no reason to expect multiple expansion anytime soon, such that he expects the stock to relatively underperform peers in the year ahead.
News For OI From the Last 2 Days
There are no results for your query OI