UPDATE: Goldman Sachs Initiates Cooper Tire & Rubber at Neutral
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.
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