-I Glass rises after upgrade to Outperform at RBC Capital
Feb. 02, 2023 8:56 AM ETO-I Glass, Inc. (OI)
O-I Glass’s (NYSE:OI) stock rose in premarket trading on Thursday after being upgraded to Outperform from an investment rating of Sector Perform by analysts at RBC Capital Markets. They said the maker of glass containers has a “higher level of earnings power” that isn’t reflect in O-I Glass’s (OI) stock price, even after recent gains.
The stock advanced 3.9% to $22.47 by 8:39 a.m. ET in premarket trading.
Profit margins have grown because glass shortages in regions such as Europe have given O-I Glass (OI) the ability to raise prices at a higher rate than inflation for raw materials such as energy, RBC said.
Feb. 02, 2023 8:56 AM ETO-I Glass, Inc. (OI)
O-I Glass’s (NYSE:OI) stock rose in premarket trading on Thursday after being upgraded to Outperform from an investment rating of Sector Perform by analysts at RBC Capital Markets. They said the maker of glass containers has a “higher level of earnings power” that isn’t reflect in O-I Glass’s (OI) stock price, even after recent gains.
The stock advanced 3.9% to $22.47 by 8:39 a.m. ET in premarket trading.
Profit margins have grown because glass shortages in regions such as Europe have given O-I Glass (OI) the ability to raise prices at a higher rate than inflation for raw materials such as energy, RBC said.