Jefferies cuts its price target from $44 to $38 on Buy-rated Tenneco TEN following a weak Q1.
Jefferies says, "TEN shares sold off 14.6% on Monday after a 1Q report that missed consensus EPS by 9.6%. The report's weak spots were largely macrorelated (particularly in Europe). Our sense is that the multi-year emissions thesis remains intact, although it might not matter until the market stops shedding auto stocks."
TEN closed at $30.83 on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in