Argus upgraded Goodyear Tire to Buy, sees Q4 report as ‘inflection point’

Argus upgraded Goodyear Tire (GT) to Buy from Hold with a $12 price target Amid global industry challenges over the past few years, which include weaker trending consumer and commercial demand, Goodyear has also faced higher raw material costs, increased levels of capital expenditures and rising levels of company debt, and as a result, the company has reported inconsistent levels of profit growth over the past several years, the analyst tells investors in a research note. Argus adds however that an inflection point developed with the reporting of Q4 results, which were much better than expected, and looking ahead, the firm expects a mild start in the first half of 2025 being followed by improving growth throughout the second half.