Goldman Sachs Downgrades Goodyear Tire & Rubber (GT) to Sell
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Goldman Sachs downgraded Goodyear Tire & Rubber (NASDAQ: GT) from Neutral to Sell with a price target of $18.00 (from $25.00).
Analyst David Tamberrino sees a tough backdrop for the company given soft tire demand, higher raw material costs and elusive pricing power. The analyst sees pressure building on guidance through H2 2018 and potential for a struggle to generate strong FCF.
Shares of Goodyear Tire & Rubber closed at $22.42 yesterday.
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