Fly News Breaks for August 2, 2019
Aug 2, 2019 | 06:20 EDT
As previously reported, BofA/Merrill analyst George Staphos downgraded Owens-Illinois to Neutral with a price target of $15. The analyst notes that he focused on the company's volume growth prospects after its underperforming Q1, but after a soft result in Q2 and a guide-down for the rest of 2019, he believes that a downgrade is warranted. Staphos adds that the performance of Owens-Illinois has been "uneven", but a volume recovery in the back half of this year and into 2020 would be "helpful".
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