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Fly News Breaks for February 22, 2017
GT, CTB
Feb 22, 2017 | 14:07 EDT
Deutsche Bank analyst Rod Lache noted that the International Trade Commission has voted to cancel tariffs and countervailing duties on imported Chinese truck and bus tires, which he views as positive for Cooper Tire (CTB) given that the company imports about 1M tires per year from China. Goodyear Tire (GT) makes its U.S. TBR tires in the U.S., so the tariffs weren't seen having a direct impact on them, though there was potential for indirect benefits if the tariffs had been upheld, Lache added. He keeps a Hold rating on Cooper Tire shares.
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