Article published July 05, 2009
O-I makes list of next 12 months’ top 10 stocks
Owens-Illinois Inc., the world’s largest producer of glass bottles, has been named a Top 10 stock for the next 12 months by Citigroup Global Markets Inc.
The Perrysburg company joins 14 other stocks on Citigroup’s 16th annual Ten+ list released last week.
The investment company put O-I on both the primary list and an aggressive-growth list.
In its analysis, Citigroup said its per-share earnings estimate for O-I this year, $2.90, could be conservative because O-I’s balance sheet is in good shape and the firm will benefit from a weaker U.S. dollar in Europe and Australia.
Calling O-I a “Buy/Medium Risk,” Citigroup analyst Timothy Thein predicted the firm’s year-end share price would reach $33 for a yield of nearly 18 percent.
Its closing price last week was just under $28.
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