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Goodyear Tire & Rubber Co. (NASDAQ:GT) is an iconic American tire company, and it is also well known for its blimps. The company offers tires under the Goodyear brand, as well as under the Dunlop and
Goodyear Tire & Rubber Company: At Bargain Levels Now With Multiple Upside Catalysts
Summary
- Goodyear shares have recently plunged, creating a buying opportunity as the stock hits a bullish double bottom on the chart.
- Earnings estimates for Goodyear show undervaluation, with the stock trading at just 10 times earnings for 2024 and 6 times earnings for 2025.
- Shareholder activist Elliott Management sees major upside potential for Goodyear, proposing changes that could increase the stock's value to $32 per share.
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Analyst’s Disclosure:I/we have a beneficial long position in the shares of GT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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