Jefferies Upgrades Titan International (TWI) to Buy, Favorable Risk/Reward

Jefferies upgraded Titan International (NYSE: TWI) from Hold to Buy with a price target of $23.00.

"TWI shares have been hit by worries about its NA ag and mining end markets, as well as the impact of its mining tire capacity expansion on margins," the firm comments. "However, we believe that worries about the earnings trajectory are overdone for now and that earnings, a potential guidance update, and more discussion of the company's Titan Europe acquisition could be positive catalysts."

For an analyst ratings summary and ratings history on Titan International click here. For more ratings news on Titan International click here.

Shares of Titan International closed at $17.84 yesterday.

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