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Fly News Breaks for March 3, 2020
NAV
Mar 3, 2020 | 07:52 EDT
Loop Capital analyst Jeffrey Kauffman downgraded Navistar to Hold from Buy with a price target of $37, down from $38. The analyst cites the expected slowdown in global commerce from coronavirus, which may negatively impact the potential list of buyers for the company. Kauffman adds that the unsolicited proposal by Traton to take over the remainder of Navistar remains "inadequate", but acquisition multiples for the company are likely to fall.
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