In a report released today, Shaqeal Kirunda from Morgan Stanley maintained a Hold rating on GoodYear Tire (GT – Research Report), with a price target of $10.20.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Shaqeal Kirunda’s rating is based on a combination of factors impacting Goodyear Tire’s financial performance. The company showed a solid finish to the year with revenues aligning with expectations. However, challenges remain, particularly with the volume and price mix pressures, as well as increased raw material costs which have somewhat hindered margin improvements.
Although Goodyear has initiated the Goodyear Forward plan to counter these challenges, the ongoing competitive pressure from low-cost imports and the fluctuating demand environment continue to pose significant hurdles. While the company is actively executing strategies to boost earnings and reduce debt, the market has yet to fully recognize these efforts, resulting in the Hold rating as fundamentals remain constrained in the short term.
According to TipRanks, Kirunda is ranked #4280 out of 9369 analysts.