Market Overview

UPDATE: Goldman Sachs Maintains Buy on Tenneco on SCR Opportunity

Related TEN
Earnings Scheduled For July 29, 2016
Barclays On Auto Suppliers: Mobileye The Top Pick, Delphi, Harman, Tenneco 'Fine Bets'
New Stocks On Exec Comp And ROIC Model Portfolio: October 2016 (Seeking Alpha)

Goldman Sachs reiterated on Friday its CL-Buy rating on Tenneco (NYSE: TEN) as the company remains a candidate to assist Navistar International (NYSE: NAV) with the adoption of Selective Catalytic Reduction ('SCR') to its engines.

Goldman Sachs noted, "Navistar hosted its technology update this morning where it confirmed a widely expected plan to add Selective Catalytic Reduction (SCR) to its Class-8 truck engines in the US and Canada. The company expects to launch an upgraded 13L engine in early 2013 with a 15L to come later. Contrary to some headlines earlier today, our conversations with both NAV and TEN have led us to conclude that the sourcing decision on the incremental SCR units has not been made and remains open."

Shares of Tenneco were trading at $26.76 at the time of posting, down 5.11 percent from Thursday's market close.

Latest Ratings for TEN

Aug 2016Deutsche BankMaintainsHold
May 2016Goldman SachsMaintainsNeutral
Apr 2016Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for TEN
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings


Related Articles (NAV + TEN)

View Comments and Join the Discussion!