Goodyear Tire price target raised to $13 from $12 at Argus

Argus raised the firm’s price target on Goodyear Tire (GT) to $13 from $12 and keeps a Buy rating on the shares following the Q1 report. The company has addressed its issues and has a “sensible plan to succeed in this environment,” the analyst tells investors in a research note. The firm believes an “inflection point developed” with Goodyear’s Q4 results. It expects gradually lower raw material cost inflation, lower capital expenditure spending, and declining debt leverage to benefit results throughout the year.