Deutsche Bank Maintains Buy Rating and $18 PT on Cooper Tire & Rubber

A report from Deutsche Bank reiterates its Buy rating and $18 price target on Cooper Tire & Rubber

. The report states, “Cooper Tire reported Q3 EPS ex charges of $0.42; ahead of our $0.21 estimate and consensus of $0.33. Revenue of $1.05bn was ahead of our $1.0bn estimate. Gross margin of 8.8% was ahead of our 8.4% estimate, as was operating margin of 4.5% vs. our 3.0% estimate. The upside vs. our expectations appears to be driven by better volume. Higher volumes were a positive $5MM impact vs. our estimate of a $60MM negative." CTB closed Friday at $14.33.