US port strike ends, but clearing long ship queues will take time
Written by Emily J. Thompson, Senior Investment Analyst
Source: Reuters
Strike Resolution: U.S. East Coast and Gulf Coast ports reopened after dockworkers reached a wage agreement, ending a significant strike that had caused a backlog of at least 54 container ships and threatened supply shortages.
Economic Impact: The strike's resolution is expected to benefit the economy, although shipping company shares fell due to eased freight rate concerns; ongoing negotiations will address automation issues that may affect job security for workers.
Analyst Views on GT
Wall Street analysts forecast GT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GT is 9.86 USD with a low forecast of 7.30 USD and a high forecast of 13.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
3 Buy
1 Hold
1 Sell
Moderate Buy
Current: 9.550
Low
7.30
Averages
9.86
High
13.00
Current: 9.550
Low
7.30
Averages
9.86
High
13.00
About GT
The Goodyear Tire & Rubber Company is a tire company. It develops, manufactures, distributes and sells tires for most applications. It also operates commercial truck service and tire retreading centers. The Company operates approximately 800 retail outlets where it offers its products for sale to consumer and commercial customers and provides repair and other services. It manufactures its products in 51 manufacturing facilities in 19 countries. Its segments represent its regional tire businesses: the Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific. It manufactures and sells numerous lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications. Its brands include Goodyear, Cooper, Kelly Tires, Mastercraft Tires, Mickey Thompson, Roadmaster, Debica, Sava, Fulda, Avon Tyres, and Sava, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
