Citigroup Downgrades O-I Glass to Neutral, Raises Price Target to $18
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Anthony Pettinari has downgraded O-I Glass (NYSE:OI) from Buy to Neutral, while also raising the price target for the company from $17 to $18.

January 03, 2024 | 2:18 pm
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NEUTRAL IMPACT
O-I Glass was downgraded by Citigroup from Buy to Neutral, although the price target was increased from $17 to $18.
The downgrade to Neutral suggests that Citigroup sees limited upside potential or increased risk in O-I Glass's stock, which could lead to a neutral or slightly negative short-term impact on the stock price. However, the increase in the price target from $17 to $18 indicates a positive view on the company's valuation, which could counterbalance the downgrade's effect. The mixed signals may result in a neutral short-term impact as the market digests both pieces of information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100