S&P Capital IQ Reiterates its BUY Rating on Goodyear Tire

October 29 00:00 2011

NEW YORK, October 29 (RainbowNewsLine.com) – Analyst Efraim Levy of S&P Capital IQ reiterates his BUY rating on the shares of Goodyear Tire (NYSE: GT).

Analyst Efraim Levy, in a research note published yesterday mentions that the company posted its Q3 EPS ahead of the estimates and the consensus. Goodyear Tire’s flat volume and high raw material costs were offset by favorable blend in premium tires, the analyst says. The company would be able to manage the substantial increase in commodity costs through positive price mix and cost cuttings, as global sales volume in Q4 to weaken more than expected, the analyst mentions. GT has brought some factors in notice that will make Q4 comparisons more difficult; however the analyst believes that GT’s strategic focus is working.

  Categories: