Current Issue

PREMIUM CONTENT FOR SUBSCRIBERS ONLY

Retail

Analysts say 'Buy, Buy' to Cooper Tire stock

Order Reprints

Cooper Tire & Rubber Co.'s stock price, up 75% since the beginning of the year, has received updated "Buy" ratings from KeyBanc Capital Markets Inc. and BB&T Capital Markets, respectively.

Saul Ludwig, managing director at KeyBanc, is maintaining his Buy (2) rating. The company "has been regaining share following several periods of underperforming," he says. He expects continued share gains in both the third and fourth quarters.

"Raw material cost increases are moderating, yet tire pricing remains firm," he adds.

Tony Cristello, senior vice president of Equity Research, is reiterating BB&T's Buy (1) Rating. Although BB&T "may have been slightly too aggressive in our assumptions for the timing of some of the incremental cost savings to be realized" from Cooper's cost savings/profit initiatives, its full-year earnings per share estimates for 2007 and 2008 remain unchanged.

Cooper's stock price on the New York Stock Exchange closed at $25.02 on Wednesday, Aug. 29, 2007.

Related Articles

Analysts say "buy" Michelin stock

Two of two analysts agree: Buy Cooper stock

BB&T maintains 'Buy' rating on Cooper stock, but...

You must login or register in order to post a comment.