O-I Glass jumps after Citi upgrades to 'buy' on recovery prospects

O-I Glass

21/08/2026 14:21

** Shares of glass bottles and jars maker O-I Glass OI.N rise 6.9% to $6.8 premarket
** Citigroup raises stock's rating to "buy" from "neutral", betting on recovery in the second half of the year
** Brokerage says co's estimates for volume recovery in second-half are conservative and expects pricing headwinds to ease in Europe
** Adds co could benefit from a lower cost position and increased focus on high-value customers
** Brokerage says it’s possible OI could ultimately be viewed as a takeout target
** Four of ten brokerages rate the stock "buy" or higher, four "hold" and two "sell"; median PT is $9
** As of last close, stock down 56.8% YTD

(Reporting by Anand Gopal in Bengaluru)
((AnandGopal.R@thomsonreuters.com))