Goodyear Downgrade to Neutral

JP Morgan has downgraded Goodyear Tire & Rubber from “overweight” to “neutral.”

Analysts claim that the downgrade is based on “valuation” and the company’s “less bullish growth prospects in 2H.” So far this quarter the company’s share price has appreciated 18 per cent in absolute terms and this combined with slowing growth rates has brought down the company’s rating. JP Morgan also asserts that Goodyear is unlikely to witness significant gains from its recent price increases.