GoodYear Tire (GT) Gets a Hold Rating from Morgan Stanley


In a report released today, Armintas Sinkevicius from Morgan Stanley maintained a Hold rating on GoodYear Tire (GT), with a price target of $22. The company’s shares closed yesterday at $22.54.

According to TipRanks.com, Sinkevicius is a 2-star analyst with an average return of 0.0% and a 50.0% success rate. Sinkevicius covers the Industrial Goods sector, focusing on stocks such as Tenneco Automotive, Visteon Corp, and BorgWarner.

GoodYear Tire has an analyst consensus of Moderate Buy, with a price target consensus of $24.67, which is a 9.4% upside from current levels. In a report issued on November 8, Citigroup also maintained a Hold rating on the stock with a $23 price target.

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Based on GoodYear Tire’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.93 billion and net profit of $351 million. In comparison, last year the company earned revenue of $3.92 billion and had a net profit of $129 million.

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Goodyear Tire & Rubber Co. engages in the development, manufactures, distribution, and sale of tires and related products and services worldwide. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications.

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