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NAV

Navistar

$27.59

3.75 (15.73%)

09:32
12/19/18
12/19
09:32
12/19/18
09:32

Navistar price target lowered to $32 from $45 at RBC Capital

RBC Capital analyst Seth Weber lowered his price target on Navistar to $32 and kept his Sector Perform rating, saying that while the company is executing well with market share gains in the currently "healthy" environment, he is concerned with the "truck cycle duration" relative to its investment sentiment and valuation. The analyst lowers his FY19 EBITDA view to $885M from $905M to account for his mixed outlook and also states that his neutral stance reflects his "caution on relatively modest implied incremental margins and cycle peak debate".

NAV Navistar
$27.59

3.75 (15.73%)

12/19/18
BARD
12/19/18
NO CHANGE
Target $54
BARD
Outperform
Navistar upside opportunity just beginning, says Baird
Baird analyst David Leiker said the Navistar turnaround is officially in the rearview mirror and yesterday's move is "just the beginning" of what he sees as an opportunity for upside. The analyst sees market share gains, improving margins, and improvement in the balance sheet as all contributing to upside. Leiker reiterated his Outperform rating and raised his price target to $54 from $53 on Navistar shares.
12/19/18
WELS
12/19/18
NO CHANGE
Target $30
WELS
Market Perform
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.
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.

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EPAY

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AMZN

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WATT

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MOSC

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ASMB

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AVAV

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