Owens-Illinois profit, shares poised to rise - Barron's
NEW YORK Oct 17 (Reuters) - Owens Illinois Inc (OI.N) profit and shares may be poised for growth as business recovers in North American and Europe and the company continues to expand in emerging economies, according to a report in Barron's financial newspaper.
The maker of glass bottles for a wide range of industries, whose shares closed Friday at $28, could see its share price rise to the $45 range, with analysts expecting a 14 percent jump in 2011 earnings, the report said.
The glass bottle industry has high barriers to entry and emerging economies already comprise about half of Owens Illinois profit, according to Barron's.
Analysts also expect North America and Europe to recover, especially with major customers including Anheuser-Busch InBev (ABI.BR) and PepsiCo (PEP.N), the newspaper said.
Owens Illinois shares have traded between $24.92 and $38.88 in the past 52 weeks.