Goodyear Tire price target raised to $17 from $16 at JPMorgan

JPMorgan analyst Ryan Brinkman raised the firm’s price target on Goodyear Tire to $17 from $16 and keeps an Overweight rating on the shares. The analyst previewed quarterly earnings for the U.S. auto parts supplier sector by raising estimates across the board to “solidly above consensus levels” on the back of a “surprisingly resilient” consumer and very strong demand from fleet customers. This led to higher than expected global light vehicle production in Q2, the analyst tells investors in a research note.