Barclays Maintains an 'Overweight' on Tenneco (TEN); Challenges Near-Term; Remaining Bullish Mid/Long-Term
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Price: $42.22 +1.86%
Rating Summary:
7 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
Rating Summary:
7 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
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Barclays maintains an 'Overweight' on Tenneco (NYSE: TEN) price target lowered from $52 to $48.
Analyst, Brian A. Johnson, said, "TEN's challenged 1Q print yesterday (adj. EPS of 66c, below our estimate of 79c), driven by disappointing Aftermarket results, raised concerns among investors that Aftermarket pressures may persist...While we believe that Aftermarket may pose some near-term risk, longer-term, we continue to appreciate TEN's high-growth CV exposure, especially as global emission regulations remain front and center."
Johnson sees large (mid-term) upside potential...despite cut in price target, still believe 56% surge in 2013. FY12 EPS estimate cut from $3.59 to $3.24 and FY13 from $4.77 to $4.16.
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 $30.83 yesterday.
Analyst, Brian A. Johnson, said, "TEN's challenged 1Q print yesterday (adj. EPS of 66c, below our estimate of 79c), driven by disappointing Aftermarket results, raised concerns among investors that Aftermarket pressures may persist...While we believe that Aftermarket may pose some near-term risk, longer-term, we continue to appreciate TEN's high-growth CV exposure, especially as global emission regulations remain front and center."
Johnson sees large (mid-term) upside potential...despite cut in price target, still believe 56% surge in 2013. FY12 EPS estimate cut from $3.59 to $3.24 and FY13 from $4.77 to $4.16.
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 $30.83 yesterday.
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