What To Know About Citigroup's Downgrade of O-I Glass
Portfolio Pulse from Benzinga Insights
Citigroup has downgraded O-I Glass (NYSE:OI) to Neutral, adjusting the price target from $17.00 to $18.00. Despite the downgrade, the new target suggests a potential upside of 16.13% from the current price of $15.50. O-I Glass is a leading manufacturer of glass bottles, with a significant market presence in Europe, North America, and Brazil, and beer as its primary end market.
January 03, 2024 | 5:00 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Citigroup downgraded O-I Glass to Neutral and raised the price target to $18.00. The stock is currently trading at $15.50, down 4.44% over the last 24 hours.
The downgrade to Neutral by Citigroup typically suggests a lack of strong positive catalysts for O-I Glass in the short term, which could limit stock appreciation. However, the increase in the price target to $18.00 implies that Citigroup sees some potential for growth, albeit not enough to warrant a more bullish rating. The mixed signals may result in a neutral short-term impact on the stock price, as the market digests both the downgrade and the new price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100