Tenneco hits three-year lows on downgrade
Tenneco, Inc. (NYSE:TEN) fell to a three-year low Thursday after being downgraded from “neutral” to “buy” by a Goldman Sachs analyst. The Lake Forest, Ill.-based automotive parts maker dropped to $14.47, more than a 10% decrease from Wednesday’s close. Tenneco, like many other auto parts manufacturers, has seen its stock fluctuate rapidly over the past year as oil prices continue to climb. Tenneco shares have ranged from $14.47 to $37.73 during the past 52 weeks. Before the close on Thursday, Tenneco was trading at $14.59.
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