|Over a week ago|
Navistar upgraded to Mixed from Negative at OTR Global » 09:3107/1607/16/20
OTR Global upgraded…
OTR Global upgraded Navistar to Mixed from Negative following checks that indicate Western European Q2 heavy-duty truck orders and the 2020 sales outlook are less negative than expected.
Navistar announces investment in autonomous trucking company TuSimple » 10:4807/1507/15/20
Navistar International and TuSimple announced earlier that the two entities have entered into a strategic partnership to co-develop SAE Level 4 self-driving trucks targeted for production by 2024. "The strategic partnership is the result of a successful technical relationship between the companies for more than two years. In addition, Navistar has taken a minority stake in TuSimple," the companies said. Persio Lisboa, President and CEO of Navistar, added: "Navistar's strategic partnership with TuSimple positions us to be a leader in developing solutions for our customers by leveraging our organizations' collective expertise to integrate our vehicle design and systems integration capabilities with TuSimple's innovative autonomous technology. This announcement marks a significant milestone in our development journey with TuSimple and we look forward to furthering our relationship in the months to come."
|Over a month ago|
Navistar upgraded to Outperform from Peer Perform at Wolfe Research » 08:4707/0707/07/20
Wolfe Research analyst…
Wolfe Research analyst Scott Group upgraded Navistar to Outperform from Peer Perform.
Navistar appoints Persio Lisboa as CEO » 06:2006/2606/26/20
Navistar announced that…
Navistar announced that its board of directors has appointed Persio Lisboa president and CEO. Navistar said in a release, "Troy Clarke, who has held the roles of Navistar president, CEO and member of the board since April 2013 and chairman of the board since February 2017, will continue to serve the company in the newly created position of executive chairman. These changes are effective July 1. Lisboa joined Navistar in 1988 and has moved through the company's ranks, serving as executive vice president and COO since March 2017."
EU commercial vehicle registrations down 44.4% in May » 08:1606/2406/24/20
DDAIF, PCAR, CNHI, NAV, CMI, ALSN
In May, EU commercial…
In May, EU commercial vehicle registrations decreased by 44.4%, although the decline was less pronounced than in April as measures to contain COVID-19 were relaxed, reported the European Automobile Manufacturers Association. Demand fell across all commercial vehicle segments, contributing to the sharp decline recorded last month. Looking at the four largest markets of the EU, Spain and Germany saw the biggest losses in May, followed by Italy and France, the group said. Publicly traded truck makers and suppliers include Daimler AG (DDAIF), Paccar (PCAR), CNH Industrial (CNHI), Navistar (NAV), Cummins (CMI) and Allison Transmission (ALSN). Reference Link
North America Class 8 retail sales down 61% in May, says JPMorgan » 09:3006/1706/17/20
NAV, PCAR, CMI, ALSN
ACT Research released…
ACT Research released final truck data for May and North America Class 8 retail sales were down 61% year-over-year to 11,717 units in May and down 39% year-to-date, JPMorgan analyst Ann Duignan tells investors in a research note. Builds were down 79% year-over-year to 6,789 units in the month and down 54% year-to-date, the analyst adds. Duignan says truck demand has the largest incremental impact on Navistar (NAV), Paccar (PCAR), Cummins (CMI) and Allison Transmission (ALSN).
Fly Intel: Top five analyst upgrades » 10:0606/0506/05/20
NVAX, NAV, SYY, HXL, WBK
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Novavax (NVAX) upgraded to Neutral from Underweight at JPMorgan with analyst Eric Joseph saying the stock's 995% rally year-to-date reflects the potential promise for the company's COVID-19 vaccine program, NVX-CoV2373, having recently initiated phase 1 testing. 2. Navistar (NAV) was upgraded to Outperform from Neutral at Baird and to Buy from Hold at Loop Capital. 3. Sysco (SYY) upgraded to Overweight from Equal Weight at Wells Fargo with analyst Edward Kelly saying Kelly's confidence in the company's ability to navigate the COVID-19 disruption and emerge even stronger is growing. 4. Hexcel (HXL) upgraded to Outperform from Market Perform at BMO Capital with analyst John McNulty saying while the company's near-term earnings will be "abysmal" with significant production cuts in aerospace compounded by inventory destocking that can't be offset quickly enough with cost cutting, there are improving signs for the intermediate to long term with the 737 MAX ramp-up having started. 5. Westpac (WBK) upgraded to Buy from Neutral at UBS with analyst Jonathan Mott saying he Australian banks have de-rated but the outlooks "may not be as bleak." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Navistar upgraded to Buy from Hold at Loop Capital » 07:4806/0506/05/20
Loop Capital analyst…
Loop Capital analyst Jeffrey Kauffman upgraded Navistar to Buy from Hold with an unchanged $35 price target. The company had a "difficult" COVID-19 impacted quarter in Q2, but the management still affirmed its belief that Navistar 4.0 plan remains achievable by 2024, implying 11-12% EBITDA margins and earnings potential in the $6-7 range over the longer term, the analyst tells investors in a research note. While the truck environment "remains weak", Kauffman believes that the market has seen the worst of the pullback in the company's core markets during FY20.
Navistar upgraded to Outperform from Neutral at Baird » 05:2906/0506/05/20
Baird analyst David…
Baird analyst David Leiker upgraded Navistar International to Outperform from Neutral with a $35 price target.
Navistar upgraded to Buy from Hold at Loop Capital » 05:1406/0506/05/20
Loop Capital analyst…
Loop Capital analyst Jeffrey Kauffman upgraded Navistar International to Buy from Hold with a $35 price target.