Goodyear Tire & Rubber Co. (GT) stock surged 5.11% during the trading session on Tuesday, February 18, 2025, outperforming the broader market.
The significant rally in Goodyear's shares was driven by an analyst upgrade from Argus Research. Argus analyst David Coleman raised their rating on Goodyear Tire to "Buy" from "Hold", citing the company's recent fourth-quarter earnings report as an "inflection point" and setting a $12 price target on the stock.
Coleman noted that despite global industry challenges faced by Goodyear in recent years, the company's cost-cutting initiatives and strategic efforts to improve profitability are starting to bear fruit. The analyst expects Goodyear's performance to improve further in the coming quarters, making the stock an attractive investment opportunity.
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