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Fly News Breaks for December 18, 2019
NAV
Dec 18, 2019 | 08:47 EDT
RBC Capital analyst Seth Weber nudged his price target on Navistar lower to $32 and kept his Sector Perform rating after its Q4 results and FY20 guidance cut. The analyst notes that while the company's improved portfolio has positioned it to better withstand the industry downturn, his neutral stance also reflects the industry's elevated inventory amid expanded capacity as well as the uncertain operating backdrop. Weber adds that the industry headwinds are further reflected in Navistar's expectations of industry volumes trending to the lower end of prior forecasted range.
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