Analysts Are Upgrading These 5 Stocks on Friday

3. O-I Glass, Inc. (NYSE:OI)

Number of Hedge Fund Holders: 23

O-I Glass, Inc. (NYSE:OI) has risen 6.83% as of 11:45 AM ET after George Staphos at Bank of America upgraded the manufacturer of glass-packaged products from a Neutral to a Buy rating. The analyst also increased the price target on O-I Glass, Inc. (NYSE:OI) from $16 to $19. Staphos highlighted that O-I Glass, Inc. (NYSE:OI) has traded at a premium of 30% to 50% against the market during times of economic downturn. This is because the demand for its products is inelastic, and O-I Glass, Inc. (NYSE:OI) has a relatively stronger position in the European market as compared to the past.

As of Q1 2022, 23 hedge funds held a stake in O-I Glass, Inc. (NYSE:OI).