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.