O-I Glass upgraded to Buy at BofA on valuation, self-help opportunity

As previously reported, BofA analyst George Staphos upgraded O-I Glass to Buy from Neutral with a price target of $16, up from $14, citing depressed value and $3-$4 per share of self-help opportunities seen by the firm. These should “more than fairly compensate investors for the secular volume and other risks,” the analyst tells investors. In Packaging & Paper/Forest Products, the firm looks at relative quality, largely defined by earnings and volume growth, return on capital, valuation, and idiosyncratic catalysts if available, the analyst tells investors in a group preview note.