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Fly News Breaks for October 29, 2019
Oct 29, 2019 | 08:30 EDT
As previously reported, Northcoast analyst John Healy downgraded Cooper Tire (CTB) and Goodyear Tire (GT), both to Neutral from Buy, as he believes investor expectations have risen for both tire makers and each of the stocks have approached his previous price targets of $32 and $17, respectively. Looking into 2020, he sees the global tire market being complicated by uncertain carmaker demand and likely pressures in the truck market, Healy tells investors. While bullish on Cooper's ability to grow profits in 2020, he feels a good portion of this optimism is priced into the stock. He also expects 2020 to be a better year for Goodyear, but notes the stock has bounced nearly 50% from summer levels amid rising investor expectations.
News For CTB;GT From the Last 2 Days
Jan 20, 2021 | 07:38 EST
Deutsche Bank analyst Emmanuel Rosner raised the firm's price target on Goodyear Tire to $12 from $10 and keeps a Hold rating on the shares. The analyst sees "strong" volume growth in 2021 for U.S. autos and an ongoing "solid" mix and pricing helped by easy compares, low inventories, and COVID-19-induced demand for comfort, privacy and protection. The Democrat victory in U.S. Congress could also result in demand upside from large federal spending on infrastructure and toward vehicle electrification, Rosner tells investors in a research note. He believes there is room for upside 2021 guidance surprises.