As previously reported, Morgan Stanley analyst Armintas Sinkevicius downgraded Tenneco (TEN) to Underweight from Equal Weight given its elevated leverage and limited free cash flow conversion in what he views as an increasingly uncertain environment for auto suppliers. He believes the stock is unlikely to be viewed more favorably by the market until the spin of the Aftermarket & Ride Performance business in late 2019, "at best." Sinkevicius lowered his price target on Tenneco shares to $30 from $40. On the group in general, the analyst noted that Q3 results were disappointing compared to consensus estimates and he believes there will be limited support for the stocks until there is more clarity around China and until guidance for 2019 is "de-risked." Sinkevicius also lowered his price targets for Adient (ADNT), Aptiv (APTV), American Axle (AXL), BorgWarner (BWA), Delphi Technologies (DLPH), Goodyear Tire (GT), Lear (LEA), Magna (MGA) and Visteon (VC).