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NAV

Navistar

$27.59

3.75 (15.73%)

08:13
12/19/18
12/19
08:13
12/19/18
08:13

Navistar price target lowered to $30 from $42 at Wells Fargo

Wells Fargo analyst Andrew Casey lowered his price target for Navistar to $30 from $42 to better discount overall stock market valuation contraction while balancing potential re-occurrence of speculation that the company is a takeout candidate. The analyst reiterates a Market Perform rating on the stock.

NAV Navistar
$27.59

3.75 (15.73%)

12/10/18
12/10/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FedEx (FDX) downgraded to Neutral from Buy at BofA/Merrill with analyst Ken Hoexter citing the board's surprise move to change its Express CEO. 2. Unilever downgraded to Underweight from Neutral at JPMorgan with analyst Celine Pannuti saying she views consensus expectations as elevated. 3. Regions Financial (RF) and KeyCorp (KEY) were downgraded to Reduce from Neutral at Nomura Instinet. 4. Qorvo (QRVO) and Skyworks (SWKS) were downgraded to Sector Weight from Overweight at KeyBanc. 5. Navistar (NAV) and Oshkosh (OSK) were downgraded to Sell from Neutral at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/10/18
GSCO
12/10/18
DOWNGRADE
Target $23
GSCO
Sell
Navistar downgraded to Sell at Goldman Sachs on peaking truck production
As reported earlier, Goldman Sachs analyst Jerry Revich downgraded Navistar to Sell from Neutral and lowered his price target to $23 from $43 as part of his broader research note on the Engineering & Construction sector which requires a more selective positioning amid "growing signs of oversupply". The analyst expects a downturn in U.S. truck production to become evident by the end of next year and weigh on margins, even though the business trades "at the high end of its historical enterprise value to EBITDA valuation range. Revich adds that while the US truck demand accelerated in 2016-17 amid a "sharp increase in spot rates born of low capital stock, low unemployment, and electronic logging standards that reduced effective capacity", supply has now caught up with demand.
12/10/18
GSCO
12/10/18
DOWNGRADE
Target $23
GSCO
Sell
Navistar downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Jerry Revich downgraded Navistar International to Sell and lowered his price target for the shares to $23 from $43. The analyst recommends an increasingly selective approach for the Americas Machinery, Engineering & Construction sector in 2019 amid growing signs of oversupply.
12/06/18
LOOP
12/06/18
UPGRADE
Target $44
LOOP
Buy
Navistar upgraded to Buy from Hold at Loop Capital
Loop Capital analyst Jeffrey Kauffman upgraded Navistar to Buy from Hold and raised his price target to $44 from $42, saying his confidence in the company's prospects and strategic initiatives has increased even as the stock price has declined 22% since the start of Q4. The analyst contends that the pullback offers an "attractive entry opportunity", particularly given the management's efforts to "improve the company's financial and competitive position" and investors' lagging adjustment to reflect the market share gains. Kauffman adds that amid the pessimism of a peaking Class 8 truck cycle, an increasing component of Navistar's earnings is coming from medium duty trucks, with the negative cycle impact further dampened by the company's market share gains and improving operating performance.

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