We raise our 2027 EPS estimate to $0.37 (from $0.30), while maintaining our 2026 estimate, as we expect a moderate Ag recovery next year. We also anticipate TWI will benefit from the rollout of new Goodyear consumer products in South America, reduced European wheels competition, and consolidation savings from the closure of a Tennessee facility. During investor meetings we attended this week, TWI management highlighted continued growth opportunities for its low sidewall (LSW) tires and ongoing development of Goodyear consumer products under its expanded licensing agreement, among others. Management also noted the aging global tractor fleet, as the market enters a fourth year of a downturn and that reduced OEM and dealer inventories are positive signs for a rebound. Higher fertilizer costs continue to pressure farmers as the Purdue-CME Group Ag Economy Barometer current conditions index slid to its lowest level since December 2024. However, we expect positive effects from the U.S.-China trade agreement. Earlier this week a Deputy Agriculture Secretary told the Wall Street Journal that he expects China to honor its pledge to purchase 25 million metric tons of U.S. soybeans this year (more than double the 12 million bought last year). We model a return to modest cash flow next year, with funds allocated to debt reduction. We expect deleveraging could serve as an additional catalyst for the stock, which currently trades at only a slight premium to book value. TWI maintains strong liquidity, including $171 million cash and $50 million available under its credit facility. Our $10 price target is based on 12x our raised 2027 free cash flow per share (FCFPS) estimate of $0.81 (from $0.80). Our moderate risk rating is based on strong brand awareness and TWI's longstanding dealer network.