HSBC analyst Wesley Brooks downgraded Goodyear Tire (GT) to Hold from Buy with a price target of $9.50, down from $15.50. The savings from the company’s restructuring have been less impact than expected, the analyst tells investors in a research note. HSBC is less confident in Goodyear’s “rerating story” following its recent results. The company’s earnings have been significantly below expectations due to falling volumes, the analyst tells investors in a research note.
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