Fly News Breaks for May 15, 2019
May 15, 2019 | 06:07 EDT
Wells Fargo analyst Gabe Hajde upgraded Owens-Illinois to Outperform from Market Perform and raised his price target for the shares to $24 from $20. The company's organic volumes are set to inflect due in part from the contribution associated with the recent and attractively priced acquisitions of Nueva Fanal and Comegua, Hajde tells investors in a research note. Further, the analyst thinks that at the current "depressed" valuation, investors are getting a complimentary ''call option'' in Owens-Illinois' recently introduced MAGMA technology.
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