UPDATE: Morgan Stanley Downgrades Goodyear Tire & Rubber (GT) to Equalweight
- Dow reaches all-time high on commodity surge; S&P, Nasdaq drop
- Dogecoin Sees 'Sell the News' Reaction to Musk's SNL Appearance, as 'Hustle' Comment is Weighed Against Launch 'To the Moon'
- Alphabet (GOOGL) and Facebook (FB) Downgraded to 'Neutral' at Citi as Decelerating Growth Is Not Bullish for Multiples
- Elliott Management has stake in Duke Energy (DUK) - WSJ
- Ethereum (ETH) Soars Above $4,000 to Print Fresh Record Highs
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."
Shares of Goodyear Tire & Rubber closed at $17.90 yesterday.
You May Also Be Interested In
- Marriott International (MAR) PT Raised to $140 at Stifel Following Earnings
- UPDATE: BofA Securities Uses SolarEdge Technologies (SEDG) Post Earnings Weakeness to Upgrade
- CIGNA (CI) PT Raised to $304 as Jefferies Notes 4 Key Takeaways
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesMorgan Stanley, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!