Morgan Stanley initiated coverage of Goodyear Tire with an Equal Weight rating and $14 price target. The analyst says the company is looking to transform its business through self-help, asset disposals and price/mix enrichment. Having lagged on margins for some time, a “Tier 1” multiple will take time, the analyst tells investors in a research note. The firm says that while Goodyear’s risk/reward is positively skewed, it prefers to own “quality tire names here.”
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