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Wall Street Analysts See a 52.23% Upside in O-I Glass: Can the Stock Really Move This High?

Shares of O-I Glass (NYSE: OI) have gained 3.5% over the past four weeks to close the last trading session at $11.68, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $17.78 indicates a potential upside of 52.2%. The mean estimate comprises nine short-term price targets with a standard deviation of $4.58. While the lowest estimate of $12 indicates a 2.7% increase from the current price level, the most optimistic analyst expects the stock to surge 122.6% to reach $26. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts. While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable. But, for OI, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted ...