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February 14, 2014
08:30 EDTGTGoodyear Tire shares have more upside, says Citigroup
Citigroup sees additional upside in shares of Goodyear Tire despite the 11% post-Q4 earnings rally due to upward estimate revisions and multiple expansion. Citi raised its price target for shares to $32 from $28 and reiterates a Buy rating on the name.
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April 24, 2015
13:20 EDTGTGoodyear Tire to build tire factory in Mexico
The Goodyear Tire & Rubber Company announced it will build a new tire factory in San Luis Potosi, Mexico to serve its customers in the Americas. The new factory, combined with investments in its existing U.S. and Canadian factories, will enable Goodyear to meet the strong and growing market demand for high-value-added, or HVA, consumer tires in North America and Latin America. Industry demand for HVA tires in these regions is expected to increase by 10M tires per year from 2014-2019. Total capital investment for the project will be approximately $500M-$550M, net of government incentives, and is consistent with the company's existing capital allocation plan. Its outlook for 2015 and 2016 capital expenditures remains unchanged at $1.1B and $1.2B-$1.3B, respectively.
06:28 EDTGTGoodyear Tire plans to put plant in San Luis Potosi, Mexico, Reuters says
Goodyear Tire is planning to invest $550M in a new tire plant in San Luis Potosi, Mexico, reports Reuters, citing two people familiar with the matter. Reference Link

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