Goldman Sachs Adds Tenneco (TEN) to Conviction Buy

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Goldman Sachs added Tenneco (NYSE: TEN) to its Conviction Buy list with a 6-month price target of $50, suggesting 34% upside.

The firm said Tenneco as poised to outgrow commercial and light vehicle volumes by a
factor of 2x, due to strong positioning in the global pollution controls market which is expanding at a 9% CAGR from 2011 to 2015.

Goldman also sees upside to the company's backlog in out years from share gains in commercial vehicles driven by a strong technology portfolio and scale advantages.

For an analyst ratings summary and ratings history on Tenneco click here. For more ratings news on Tenneco click here.

Shares of Tenneco closed at $37.40 yesterday, with a 52 week range of $22.47-$46.80.

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