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O-I Glass (OI) closed at $12.70 on the last trading session, reflecting a 3.3% gain over the past four weeks. Wall Street analysts have set a mean price target of $16.56, indicating a potential upside of 30.4%, with targets ranging from a low of $13.00 to a high of $19.00 and a standard deviation of $2.07. Analysts have increased the Zacks Consensus Estimate for the current year by 8.3% recently, aligning with a Zacks Rank #2 (Buy), positioning OI in the top 20% of over 4,000 ranked stocks.
Despite the generally positive outlook, it’s important to approach price targets cautiously, as empirical research indicates they can often mislead investors. Analysts’ forecasts are subject to external influences and may reflect overly optimistic projections driven by business relationships rather than purely financial data.
As of now, there’s a strong consensus among analysts regarding improved earnings prospects for O-I Glass, bolstering the stock’s potential for upside in the near term.
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