Goodyear (GT) Set to Benefit From Favorable Replacement Tire Market Potential

Goodyear Tire & Rubber (NASDAQ:GT) is 1 of the best Auto Parts stocks according to Hedge Funds.

As of January 29 closing, Goodyear Tire & Rubber (NASDAQ:GT) carried moderately bullish statement views. Out of 5 analysts who provided sum connected the stock, 3 assigned Buy ratings and 1 gave a Hold call. With conscionable 1 Sell call, it has a median 1-year terms people of $10.26, which results successful astir 7% upside potential.

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On January 22, Edison Yu from Deutsche Bank maintained his Buy standing connected Goodyear Tire & Rubber (NASDAQ:GT), anterior to the upcoming quarterly net announcement. He assigned a terms people of $12, which results successful an upside imaginable of astir 25%.

Yu anticipates beardown imaginable for Goodyear successful the replacement tyre market, arsenic the long-awaited low-cost inventory digestion has kicked successful astatine retailers. He besides projects stronger-than-expected results from the institution contempt a meager 4% simplification successful tyre volumes, successful enactment with guidance.

Goodyear Tire & Rubber (NASDAQ:GT) is simply a planetary shaper and seller of tires and related products and services. These products and services person automotive, commercial, and specialty applications. The institution offers a assortment of rubber tires for aircraft, buses, cars, concern equipment, motorcycles, and trucks. It operates nether salient brands specified arsenic Goodyear, Cooper, Dunlop, Roadmaster, Fulda, and Remington.

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Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.