TEN Continues To Be An Attractive Longer-Term Holding

Analysts at Goldman Sachs downgrade Tenneco Inc (NYSE: TEN) from "buy" to "neutral," while removing the company from the Americas Buy List. The six-month target price for TEN has been raised from $21 to $24.

According to Goldman Sachs, TEN’s share price have risen by 209.9% since September 5, 2009, as compared to a 25.6% rise in the S&P 500. TEN’s shares now reflect the company’s impressive growth prospects. TEN, however, continues to be an attractive longer-term holding.

Goldman Sachs believes that Tenneco may announce its 2010/2011 top-line growth outlook when it reports its 4Q09 earnings. The outlook may help bring visibility into the company’s commercial growth going forward.