Tenneco (TEN) Still Has Opportunity for Navistar (NAV) Business - Goldman
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Price: $42.71 +0.92%
Rating Summary:
7 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Tenneco (NYSE: TEN) are bouncing off the lows of the day as analysts at
Goldman Sachs are saying that earlier headlines that the company won't supply Navistar's (NYSE: NAV) new SCR engines is not exactly the case and the opportunity remains open.
Goldman's analyst said talks with both Tenneco and Navistar "led us to conclude that the sourcing decision on the incremental SCR units has not been made and remains open." They believe Tenneco remains a good candidate for the business.
If the companies does win the business, Goldman estimates it could be accretive to EPS by $0.12 on a fully ramped basis.
The firm maintained their Conviction Buy List rating and price target of $49 on TEN.
For an analyst ratings summary and ratings history on Tenneco click here. For more ratings news on Tenneco click here.
Shares of Tenneco are down 4.9 percent to $26.81.
Goldman Sachs are saying that earlier headlines that the company won't supply Navistar's (NYSE: NAV) new SCR engines is not exactly the case and the opportunity remains open.
Goldman's analyst said talks with both Tenneco and Navistar "led us to conclude that the sourcing decision on the incremental SCR units has not been made and remains open." They believe Tenneco remains a good candidate for the business.
If the companies does win the business, Goldman estimates it could be accretive to EPS by $0.12 on a fully ramped basis.
The firm maintained their Conviction Buy List rating and price target of $49 on TEN.
For an analyst ratings summary and ratings history on Tenneco click here. For more ratings news on Tenneco click here.
Shares of Tenneco are down 4.9 percent to $26.81.
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