GT Should I Buy

Argus lowered the firm's price target on Goodyear Tire to $9 from $13 and keeps a Buy rating on the shares. The company has faced several big challenges over the past few years, ranging from slower consumer and commercial demand, to rising raw material costs, to higher capital expenditures, to low-priced Asian imports into the U.S., and, more recently, to trade and tariff legislation, though the firm believes that Goodyear is addressing all these obstacles with a rational and well thought-out strategic plan, the "Goodyear Forward" plan that focuses on divesting noncore assets, reducing structural costs, lowering corporate debt, and prioritizing higher-margin, premium tire segments, the analyst tells investors in a research note.