Fly News Breaks for January 27, 2020
Jan 27, 2020 | 08:48 EDT
Deutsche Bank analyst Debbie Jones raised her price target for O-I Glass to $15 from $12 saying St. Gobain's petition for Chapter 11 bankruptcy relief is a positive for the company. While it does not provide legal certainty on the matter, investors will likely be encouraged that St. Gobain is also attempting a similar legal strategy O-I Glass, Jones tells investors in a research note. Further, the analyst believes a delay in asbestos payments while the litigation is ongoing should be beneficial to O-I's debt reduction efforts. She keeps a Buy rating on the shares.
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