Jefferies Maintains a 'Buy' on Navistar International (NAV); Chopping Estimates & PT on Lowered Expectations

May 30, 2012 8:18 AM EDT
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Price: $27.79 -2.93%

Rating Summary:
    3 Buy, 17 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies maintains a 'Buy' on Navistar International (NYSE: NAV) price target slashed from $70 to $45.

Analyst, Stephen Volkmann, said, "NAV will report F2Q EPS the week of June 4. We expect another soft quarter given recent market share weakness and also believe that guidance will be cut by $1.00 or more on a lower share and margin outlook and some continued NCP payments. However, the key question for the stock is the status of the 13L certification and resolution of the question would move the shares higher."

"Our F2Q EPS goes to $0.40 (from $0.95) and our FY12 estimate goes to $4.00 from $5.00 on lower share and margin assumptions. Our out year estimates remain $8.00 in FY13 and $9.25 in FY14."

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 $29.23 yesterday.

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