NEW YORK (TheStreet) -- Cooper Tire & Rubber Co. (CTB) stock was upgraded to "overweight" from "sector weight" at Keybanc on Thursday morning. The firm has a $43 price target on the stock.

The Findlay, OH-based company is a manufacturer and marketer of replacement tires.

The higher rating is due to the firm's incremental confidence in the company's long-term outlook, supported by its analysis that suggests favorable industry conditions should persist with earnings per share upside potential.

"We expect industry supply/demand balance to remain favorable, supported by a positive volume outlook. We are encouraged as our channel work indicates positive U.S. sell-out trends near term, with macro factors supporting a favorable medium-term outlook," Keybanc wrote in a note.

Additionally, pricing is stable, but raw materials could decline into the double digits this year, the firm noted.

Shares of Cooper Tire closed at $35.84 on Wednesday.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and attractive valuation levels.

The team believes its strengths outweigh the fact that the company shows weak operating cash flow.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CTB