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Goodyear Tire & Rubber under pressure after analysts chip away

  • Argus lowers Goodyear Tire & Rubber (NASDAQ:GT) to a Hold rating from Buy.
  • "Goodyear recently posted weak 4Q18 results, missing the consensus estimates on both revenue and EPS. We are also concerned about the impact of rising raw material costs on 2019 earnings," warns Argus analyst David Coleman. The firm assigns a lower trading multiple on Goodyear due to the expectation for higher input costs.
  • Also in the mix, Longbow Research drops Goodyear to an Underperform rating from Neutral and Goldman Sachs (Sell, $17 PT) warns on a "tough year" for the tire seller.
  • Shares of Goodyear are down 1.28% in premarket trading to $18.45.

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