Morgan Stanley Upgrades Goodyear Tire & Rubber (GT) to Overweight, Double Upgrade

Morgan Stanley upgraded Goodyear Tire & Rubber (NASDAQ: GT) from Underweight to Overweight with a price target of $52.00 (from $24.00).

Analyst Adam Jonas speculates that tech revolution in mobility could drive growth for miles traveled to twice historic levels which would support tire volumes and pricing. Over the LT he sees GT possibly becoming a transport services firm with less cyclical revenues.

FY 2017 EPS estimate falls from $3.76 to $3.71, FY 2018 EPS estimate rises from $3.68 to $4.13 and FY 2019 EPS estimate rises from $3.56 to $4.46.

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 $32.22 yesterday.

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