Jefferies Maintains Buy on Owens-Illinois (OI)

Jefferies is out with its report today on Owens-Illinois OI, maintaining Buy. In a note to clients, Jefferies writes, "As usual, there's quite a bit of put and takes, but we believe the positives (demand recovery + better pricing outlook) outweigh the negatives (inflation). While higher energy prices is an overhang, OI appears to be restoring its pricing power with supply tightening." Jefferies has a $39 PT on OI. Shares of OI closed Thursday at $29.81, down 2.90% from Wednesday's close.