Written on Wed, 03/17/2010 - 8:36am
By Chip Brian
3/17/2010-Citigroup maintained its Buy rating on Owens Illinois (NYSE:OI) and its $36.00 price target, as the bank still sees attractive upside in OI.
Analyst Timothy Thein said, "Our estimates (and price target) reflect conservative volume assumptions relative to demand indicators from certain key markets (like Brazil), and macro projections that have shown a consistent upward bias to start the year, with the exception of Europe (CIRA economists currently forecast GDP growth in '10 of 3.5% globally / 5.9% in Brazil, revised up from 3.2% / 5.0% at year-end '09)."
The bank expects the company to report 2010 EPS of $3.25, versus consensus estimates of $3.30.
Keywords: owens illinois Citigroup rating Target
Ticker(s): OI
