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Owens-Illinois (OI +4%) is raised to Buy with a $28 price target (up from $20) at Goldman Sachs,...
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Friday, October 5, 2012, 3:25 PM ETOwens-Illinois (OI +4%) is raised to Buy with a $28 price target (up from $20) at Goldman Sachs, which says the change in capital allocation strategy ushered in by the new CFO will drive OI's' EV/EBITDA multiple back to historical average levels. OI also says it will use 90% of its cash over the next two years for debt reduction vs. a previous focus on M&A.
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