The Goodyear (GT) Ends Losses, Gains Double Digits On Rating Upgrade

We recently published a list of Small But Mighty: 10 Stocks That Stunned Wall Street Today. In this article, we are going to take a look at where The Goodyear Tire & Rubber Company (NASDAQ:GT) stands against other stocks that stunned Wall Street on Monday.

The Goodyear snapped a three-day losing streak on Monday, adding 10.71 percent to its valuation to close at $11.78 apiece after earning an upgraded rating from an investment firm.

In its market note, BNP Paribas raised its rating for The Goodyear Tire & Rubber Company (NASDAQ:GT) to “Outperform” from “Neutral” previously, while also giving a price target of $15, or a 27 percent upside from its latest closing price.

BNP Paribas’ assessment reflected its optimism for the company’s business despite the threats of automotive tariffs, thanks to its ability to manage pricing and product mix.

Additionally, it said that approximately 55 percent of all tires sold in the US that are not compliant with the United States-Mexico-Canada Agreement (USMCA) now face a 25-percent tariff, giving The Goodyear Tire & Rubber Company (NASDAQ:GT) an estimated 10.5 percentage point advantage over its competitors.

In the first quarter of the year, The Goodyear Tire & Rubber Company (NASDAQ:GT) swung to a net income of $115 million from a net loss of $57 million in the same period last year.

The Goodyear (GT) Ends Losses, Gains Double Digits On Rating Upgrade

A tire manufacturing plant, showing the mechanization and efficiency of the company’s operations.

Net sales, however, declined by 6.7 percent to $4.2 billion from $4.5 billion year-on-year.

Overall, GT ranks 9th on our list of stocks that stunned Wall Street on Monday. While we acknowledge the potential of GT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.