Deutsche Bank Maintains Buy on Goodyear Tire & Rubber (GT)

Deutsche Bank is out with its report today on Goodyear Tire & Rubber GT, maintaining Buy. In a note to clients, Deutsche Bank writes, "Goodyear announced an 'up to 8%' price increase for light vehicle tires, effective May 1. This follows a 6% price increase for light vehicle tires on March 1 and an 'up to 15%' price increase on commercial truck tires on April 1. We continue to believe that the NAFTA supply/demand relationship for tires is tightening, which should provide the basis for strong pricing. It is for this reason that we are not overly concerned about rising raw material cost. Every 1% change in global tire pricing could potentially drive a $0.55 impact on Goodyear's earnings." Deutsche Bank has a $21 PT on GT. At the time of posting, shares of GT were trading pre-market at $14.51, down 0.10% from Monday's close.