Goodyear Tire now offers a buy-on-a-pullback opportunity


Goodyear Tire & Rubber Co.'s (GT) stock has meandered of late, but I'm nevertheless reiterating my buy rating for the company, first recommended on May 5, 2009 at a price of $13.30. Here's why.

Institutional investors sold GT after the company reported a 15% reduction in Q3 revenue and the view from here argues the selling was overdone. Goodyear will benefit from tire demand growth in 2010.

Originally published