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You are here: Home1 / News2 / Company News3 / Analysts raise Cooper target price

Analysts raise Cooper target price

Date: 4th May 2012 Author: Tyrepress Editors Comments: 0

Deutsche Bank analysts have raised their target price for Cooper Tire & Rubber shares to US$19.00. In an investors’ note published 3 May, the analysts stated that Cooper Tire “reported stronger than expected Q1 earnings of $0.34 versus our $0.27 estimate. Margins were significantly higher than we expected (operating margin was 4.8 per cent versus our 3.9 per cent estimate). All of the upside versus our estimates was derived from lower than expected raw material inflation. Nonetheless, the results were impressive considering that they were achieved despite $0.32 of strike related costs. This reinforces our view that tyre companies are becoming more profitable at any volume. We maintain our Hold based on uncertainty surrounding structural industry changes.”

Related news:

  • Cooper posts improved Q1 results

Related news:

  1. Cooper Tire shares mark 52-week low
  2. Cooper gives word on quarterly dividend
  3. Goodyear, Cooper Share Values Drop
  4. Cooper Tire keeps ‘neutral’ rating
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