Deutsche Bank Maintains a 'Buy' on Goodyear Tire & Rubber (GT); Even More Bullish After Meeting With Management

May 11, 2012 9:45 AM EDT
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Price: $30.54 -0.88%

Rating Summary:
    10 Buy, 2 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Deutsche Bank maintains a 'Buy' on Goodyear Tire & Rubber (NYSE: GT) price target of $20.00.

Analyst, Rod Lache, said, "We spent some time with management of Goodyear Tire over the past week, and we took this opportunity to review the major elements of (and risks to) our investment thesis. Our overall takeaway was bullish for the equity. In fact, we are gaining increased confidence in our earnings outlook. GT appears to be on track with their 2013 targets: $1.6 bn segment operating income (SOI); $1.5 bn EBIT; $2.4 bn EBITDAP; $500 MM free cash flow before pension paydown. And based on GT's valuation, we now view this stock as one of the most compelling Auto/Auto Parts stocks within our coverage universe."

For an analyst ratings summary and ratings history on Goodyear Tire & Rubber click here. For more ratings news on Goodyear Tire & Rubber click here.

Shares of Goodyear Tire & Rubber closed at $10.30 yesterday.

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