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Fly News Breaks for April 16, 2018
VLKAY, NAV
Apr 16, 2018 | 10:59 EDT
Baird analyst David Leiker, who has "repeatedly written" that Volkswagen's (VLKAY) initial ownership stake in Navistar (NAV) was a precursor to an eventual takeover, believes a buyout is increasingly imminent as the German automaker more explicitly signals a pending IPO of VW Truck & Bus. Leiker, who thinks a Volkswagen buyout price would likely be "around $60," keeps an Outperform rating and $53 price target on Navistar shares.
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