Goodyear goes into a skid over strong dollar and weak Europe

Joseph Millis
Goodyear stock is still highly-rated by some analysts
GOODYEAR, America’s largest tyre maker, yesterday said it expects full-year 2014 income growth to be slightly below its original 10 per cent to 15 per cent range.

Goodyear changed its expectations primarily because of what it called a more “challenging industry environment in Europe” in the fourth quarter and a stronger dollar globally.

However, ratings team gave the company a “buy” status.

It said: “This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. [Its] strengths can be seen in multiple areas, such as its solid stock price performance, good cash flow from operations… We feel these strengths outweigh the fact that [it] has had sub-par growth in net income.”