KeyBanc Upgrades Goodyear Tire (GT) to Buy
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KeyBanc upgrades Goodyear Tire (NYSE: GT) from Hold to Buy. Price target $20.
KeyBanc analyst says, "The Company is beginning to see some signs of economic stabilization and recovery, although it is modest at this time. We expect the stock be up today as a result of the earnings beat. We will be reviewing our 3Q09 and 2009 estimates following the Company's conference call at 10 A.M. this morning. Based on the earnings release, lower raw material costs, significant cost reduction initiatives and a likely improvement in replacement consumer tire demand."
To see more analyst ratings on GT Click Here.
The Goodyear Tire & Rubber Company engages in the development, manufacture, distribution, and sale of tires and related products and services worldwide.
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