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Fly News Breaks for February 12, 2020
Feb 12, 2020 | 05:45 EDT
JPMorgan analyst Ryan Brinkman downgraded Goodyear Tire to Neutral from Overweight with a price target of $14, down from $20. The company yesterday reported softer than expected Q4 results while also highlighting a number of factors that are likely to prevent a rebound in profits in 2020, Brinkman tells investors in a research note. The analyst continues to believe Goodyear is "under-earning" and can eventually recoup a large portion of margin lost, but he says management's outlook "undercuts the chance for this in 2020."
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