Barclays Maintains an 'Equalweight' on Navistar International (NAV); Cutting FY Estimates on Weak Q1

March 9, 2012 2:03 PM EST
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Price: $29.75 --0%

Rating Summary:
    3 Buy, 17 Hold, 5 Sell

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Barclays maintains an 'Equalweight' on Navistar International (NYSE: NAV) price target of $47.00.

Analyst, Andy Kaplowitz, said, "Despite relatively low expectations headed into the quarter, NAV's reported results were well below our expectations. Although NAV had guided to a loss in the quarter (typically, NAV's weakest in terms of EPS), the magnitude of the loss was surprising to us. With a number of moving parts in the quarter, including lower-than-expected results across NAV's manufacturing operations and a significant charge related to warranty expense in the Engine segment, we remain cautious on NAV's ability to consistently execute in the near term."

Barclays cuts FY12 EPS estimate from $5.20 to $4.00.

For an analyst ratings summary and ratings history on Navistar International click here. For more ratings news on Navistar International click here.

Shares of Navistar International closed at $39.27 yesterday.

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