UPDATE: Deutsche Bank Color On GT 4Q

Deutsche Bank, which raised its PT on shares of Goodyear Tire & Rubber Co. GT, is providing some color on the company. “We see structural changes supporting profitability for all North American tire companies,” Deutsche Bank writes. “Based on data from Modern Tire Dealer, we estimate the theoretical maximum tire manufacturing capacity in the NAFTA market has declined from 387 MM units in 2005 to 320 MM in 2009 (note that this number is likely inflated, since our calculation assumes that tire plants operate 365 days per year). “Over this same period, NAFTA tire demand declined from 384 MM to 312 MM units. But in 2010, tire demand has recovered to nearly 341 MM units, and we have recently begun to hear about global tire supply shortages.” Goodyear Tire & Rubber Co. currently trades at $13.82.