Tenneco (TEN) Tops Q1 EPS by 6c; Boosts FY16 Outlook
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Wells Fargo Downgrades Tenneco (TEN) to Market Perform
April 27, 2016 6:23 AM EDTWells Fargo downgraded Tenneco (NYSE: TEN) from Outperform to Market Perform and slightly raised its valuation range to $55-$60 (from $52-$57).
Analyst Richard Kwas commented, "We are downgrading TEN shares to Market Perform from Outperform. Mgmt is executing well. Today's (4/26) 14% move (vs. 0.2% for the SPX) was impressive but pushes the stock price near the top-end of our valuation range. Further, on a macro basis, we are concerned... More
