Analysts Cut Goodyear Price Target to $6.73 as Rating Shifts to Hold
Analysts covering The Goodyear Tire & Rubber Company (GT) have lowered their average 12-month price target on the stock to $6.73, down from $7.20. The updated average target reflects six analyst estimates, which range from a low of $4.40 to a high of $9.00 per share. Shares of the tire manufacturer fell 3.61% today to $4.135.
Along with the lower price target, the overall analyst consensus on the stock shifted to a Hold rating across nine covering analysts. Among those analysts, three recommend buying the shares, five advise holding, and one recommends selling. Based on the closing stock price from October 16, the revised $6.73 target still represents potential upside of approximately 57%.
Investors will be watching how future quarterly results and operational changes affect analyst views. The wide spread in price targets reflects varying opinions among researchers regarding the company's outlook.
Key points
- The average 12-month price target for Goodyear Tire was lowered from $7.20 to $6.73 across six analyst estimates.
- Analyst price targets for the stock range from a low of $4.40 to a high of $9.00 per share.
- The consensus rating shifted to Hold among nine covering analysts, consisting of 3 Buys, 5 Holds, and 1 Sell.
- The revised average price target implies approximately 57% potential upside from the October 16 closing price.
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What is the new average price target for Goodyear stock?
Six analysts established an average 12-month price target of $6.73 for Goodyear Tire, down from the previous average of $7.20. Forecasts range between $4.40 and $9.00 per share.
What is the current consensus rating for Goodyear Tire?
The consensus rating for Goodyear shifted to Hold across nine covering analysts. The breakdown includes three Buys, five Holds, and one Sell.
How much upside does the updated Goodyear target represent?
Based on the October 16 closing price, the average target of $6.73 implies approximately 57% upside for the stock.