Wednesday, Jul 27, 2016
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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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