BofA Downgrades Pactiv Evergreen, O-I Glass - Read Why

• BofA analyst George Staphos downgraded Pactiv Evergreen Inc (NASDAQ:PTVE) to Neutral from Buy with a price target of $13 (29.6% upside).
• The analyst also downgraded O-I Glass Inc (NYSE:OI) to Neutral from Buy with a price target of $14 (7% upside).
• Staphos foresees a chance for macroeconomic trends to decelerate. He lowered his ratings on both the companies as a precaution ahead of the quarterly report. 
• The analyst thinks that investors should move to higher quality and returns in the current environment.
• Price Action: PTVE shares are trading lower by 2.53% at $10.03 and OI lower by 1.73% at $13.08 on the last check Thursday.