BofA Downgrades Pactiv Evergreen, O-I Glass - Read Why - O-I Glass (NYSE:OI)

BofA analyst George Staphos downgraded Pactiv Evergreen Inc PTVE to Neutral from Buy with a price target of $13 (29.6% upside).
The analyst also downgraded O-I Glass Inc OI to Neutral from Buy with a price target of $14 (7% upside).
Staphos foresees a chance for macroeconomic trends to decelerate. He lowered his ratings on both the companies as a precaution ahead of the quarterly report.
The analyst thinks that investors should move to higher quality and returns in the current environment.
Price Action: PTVE shares are trading lower by 2.53% at $10.03 and OI lower by 1.73% at $13.08 on the last check Thursday.

Momentum57.06

Growth25.50

Quality-

Value32.12

Short

Medium

Long

BofA Downgrades Pactiv Evergreen, O-I Glass - Read Why