O-I Glass upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital analyst Arun Viswanathan upgraded O-I Glass to Outperform from Sector Perform with a price target of $34, up from $20. O-I is operating at a "structurally higher level of earnings power," which is yet to be reflected in the stock price, even after the recent run, the analyst tells investors in a research note. RBC says the company’s structural margin expansion is "here to stay." The firm sees opportunity for share upside when new capacity drives above-average volume growth.