Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Avondale Upgrades Libbey to Market Outperform

Avondale upgraded shares of Libbey (LBY) to market outperform, after the company said it plans to buy the remaining 51% of its Latin American glass making business.

Analyst Douglas Lane says the company will pay $80 million in cash and assume $65 million in debt to fully own its Mexican joint venture Vitrocrisa. He says that with 100% of Vitrocrisa, Libbey seems to be getting the flexibility it needs to stop its profit erosion. He acknowledges that the company has struggled to meet projections lately. Still, if the numbers outlined in today's press release for estimates 2007 (in example earnings before interest taxes (EBIT) of $55 million to $65 million) come anywhere close to fruition, then he thinks the stock could rally back to prices in the double digits pretty quickly. He calculates that $60 million in EBIT equates to something around $1.50 in earnings per share (EPS.)

blog comments powered by Disqus