O-I Glass price target lowered to $17 from $20 at Truist

Truist analyst Michael Roxland lowered the firm’s price target on O-I Glass to $17 from $20 and keeps a Buy rating on the shares. Despite the company’s Q1 earnings beat, demand deteriorated in the quarter especially for long supply chain products such as wines and spirits, partly due to accelerated destocking as spirits and wines producers more aggressively adjusted inventories and working capital, the analyst tells investors in a research note.