Goodyear Tire & Rubber (NASDAQ:GT) is one of the best Auto Parts stocks according to Hedge Funds.
As of January 29 closing, Goodyear Tire & Rubber (NASDAQ:GT) carried moderately bullish consensus views. Out of 5 analysts who provided coverage on the stock, 3 assigned Buy ratings and 1 gave a Hold call. With just 1 Sell call, it has a median 1-year price target of $10.26, which results in almost 7% upside potential.
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On January 22, Edison Yu from Deutsche Bank maintained his Buy rating on Goodyear Tire & Rubber (NASDAQ:GT), prior to the upcoming quarterly earnings announcement. He assigned a price target of $12, which results in an upside potential of almost 25%.
Yu anticipates strong potential for Goodyear in the replacement tire market, as the long-awaited low-cost inventory digestion has kicked in at retailers. He also projects stronger-than-expected results from the company despite a meager 4% reduction in tire volumes, in line with guidance.
Goodyear Tire & Rubber (NASDAQ:GT) is a global manufacturer and seller of tires and related products and services. These products and services have automotive, commercial, and specialty applications. The company offers a variety of rubber tires for aircraft, buses, cars, industrial equipment, motorcycles, and trucks. It operates under prominent brands such as Goodyear, Cooper, Dunlop, Roadmaster, Fulda, and Remington.
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Disclosure: None. This article is originally published at Insider Monkey.