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Fly News Breaks for December 30, 2019
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.
News For 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.