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Fly News Breaks for August 5, 2019
Aug 5, 2019 | 06:51 EDT
Goldman Sachs analyst Brian Maguire upgraded Owens-Illinois to Neutral with a price target of $13, saying the negative catalysts around lower volume and higher taxes have materialized with the stock underperforming since reporting a miss in Q2 earnings last week. The analyst contends that there may still be some downside to the stock price from the secular growth challenges for glass packaging, but he sees the risk-reward as "more balanced" and revised guidance "more achievable".
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