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Fly News Breaks for December 30, 2019
GT
Dec 30, 2019 | 06:56 EDT
Nomura Instinet analyst Anindya Das initiated coverage of Goodyear Tire with a Buy rating and $20 price target. The analyst views Goodyear as an attractive, defensive stock within the auto and auto parts space, in a time when the economic growth outlook is somewhat "muddied." Das sees a strong earnings recovery from 2020 onwards after largely completing its restructuring to cut structural costs and increase capacity of more profitable large-rim diameter tires, defensive nature due to aftermarket exposure, and an inexpensive valuation.
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