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

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  • 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.
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