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Fly News Breaks for November 5, 2019
OI
Nov 5, 2019 | 08:54 EDT
RBC Capital analyst Arun Viswanathan lowered his price target on Owens-Illinois to $10 and kept his Sector Perform rating after its Q3 earnings miss and below-consensus guidance for Q4. The analyst also lowers the assumed earnings multiple in his model to 6.25-times from 6.5-times, saying he awaits evidence of stabilization in North America volume declines and signs of a growth catalyst before getting more constructive. Viswanathan adds that he is cutting his FY19 and FY20 EPS views by 20c and 35c to $2.20 and $2.25 respectively.
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