Goldman Sachs Resumes Cooper Tire & Rubber (CTB) at Buy

Goldman Sachs resumed coverage on Cooper Tire & Rubber (NYSE: CTB) with a Buy rating and a price target of $36.00.

Analyst Patrick Archambault said, "Our investment view reflects exposure to pent-up US demand driving volume growth combined with a forecasted ROIC above tire peers given an efficient capital spend. We also see share price upside risk from the removal of the CCT overhang should the ownership process be resolved, with CTB potentially gaining increased M&A appeal. While not reflected in our forecasts and with no view on the outcome, we also see potential near-term tailwinds from the ongoing ITC/DOC investigation into possible tariffs on Chinese tire imports."

For an analyst ratings summary and ratings history on Cooper Tire & Rubber click here. For more ratings news on Cooper Tire & Rubber click here.

Shares of Cooper Tire & Rubber closed at $29.11 yesterday.

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