UPDATE: Morgan Stanley Downgrades Goodyear Tire & Rubber (GT) to Equalweight

April 16, 2021 2:55 AM EDT
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Price: $19.36 -1.58%

Rating Summary:
    7 Buy, 9 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 16 | New: 44
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(Updated - April 16, 2021 6:00 AM EDT)

Morgan Stanley analyst Victoria Greer downgraded Goodyear Tire & Rubber (NASDAQ: GT) from Overweight to Equalweight with a price target of $16.00 (from $16.00).

The analyst comments "We continue to like the earnings accretion potential from the Cooper acquisition, and see scope for further savings from plant closures in time. At $17.6, the stock trades on 9x 22E EPS, 7x our estimated EPS post-deal (including full synergies) - after a strong run, we think it is up with events."

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 $17.90 yesterday.

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