Goldman Sachs Downgrades Goodyear Tire & Rubber (GT) to Sell

July 17, 2018 5:12 AM EDT
Get Alerts GT Hot Sheet
Price: $11.10 -3.65%

Rating Summary:
    8 Buy, 9 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 21 | New: 16
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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.

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 $22.42 yesterday.

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