Market Overview

UPDATE: Deutsche Bank Raises PT on Goodyear Tire & Rubber Following Industry Contact Discussions

Share:
Related GT
Jim Cramer Shares His Thoughts On AT&T And Cooper Tire & Rubber
CNBC's Stock Pops & Drops From February 17
Goodyear Tire & Rubber settles with the SEC over Africa FCPA violations (Seeking Alpha)

In a report published Thursday, Deutsche Bank analyst Rod Lache reiterated a Buy rating on The Goodyear Tire & Rubber Company (NASDAQ: GT), and raised the price target from $21.00 to $23.00.

In the report, Deutsche Bank noted, “Based on discussions with industry contacts, we would not be surprised to see another quarter of below average volume performance, which would be consistent with GT's strategy of prioritizing profitability over volume. Feedback from industry contacts suggests intense price competition at the low end of the tire market. The good news is that Goodyear appears to be above the fray (at the high end). And we believe that the company's strategy will pay dividends in an industry recovery.”

The Goodyear Tire & Rubber Company closed on Wednesday at $22.10.

Latest Ratings for GT

DateFirmActionFromTo
Feb 2015CitigroupMaintainsBuy
Feb 2015Deutsche BankMaintainsHold
Feb 2015JP MorganMaintainsOverweight

View More Analyst Ratings for GT
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Rod LacheAnalyst Color Price Target Analyst Ratings

 

Related Articles (GT)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→