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Fly News Breaks for January 7, 2019
OI
Jan 7, 2019 | 07:01 EDT
Citi analyst Anthony Pettinari downgraded Owens-Illinois (OI) to Neutral and lowered his price target for the shares to $20 from $25. The analyst says the downgrade reflects a more defensive positioning for Paper & Packaging in 2019. Following 2018's underperformance there are some supportive signs on valuation, with the Packagers' disconnect from Consumer Staples "especially noteworthy," Pettinari tells investors in a research note. Crown Holdings (CCK), Berry Global (BERY) and Graphic Packaging (GPK) are his top picks for 2019.
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