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UPDATE: Goldman Sachs Initiates Cooper Tire & Rubber at Neutral

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Goldman Sachs initiated coverage on Cooper Tire & Rubber (NYSE: CTB) with a Neutral rating and a $25 price target.

Goldman Sachs noted, "We initiate on Cooper Tire with a Neutral rating and a six-month price target of $25. While we are positively biased to Cooper's long-term growth given the company's improving product portfolio and its expansion into international markets, we see near-term pressures on pricing and volumes in the United States primarily in the value category as ITC tariffs expire. With shares up 43% ytd, we believe growth expectations are priced in."

Cooper Tire & Rubber closed at $19.54 on Wednesday.

Latest Ratings for CTB

DateFirmActionFromTo
May 2016Goldman SachsMaintainsNeutral
May 2016JP MorganMaintainsNeutral
Apr 2016KeyBancUpgradesSector WeightOverweight

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Posted-In: Goldman SachsAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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