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Fly News Breaks for September 5, 2019
NAV
Sep 5, 2019 | 07:41 EDT
Wells Fargo analyst Andrew Casey lowered his price target for Navistar to $27 from $35 saying that the company's internal performance appears to be improving, but the North American truck cycle looks likely to turn down in 2020. Looking ahead, the analyst is also cutting his 2020 expectations beneath consensus on reduced volume expectations, and expects further volume deterioration in 2021 with Class 8 industry volumes dropping to about 169,000 units. Casey reiterates a Market Perform rating on the shares.
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