Jefferies Reiterates Bullish Stance on Navistar (NAV)

Jefferies analyst Stephen Volkmann reiterated a Buy rating and $45 price target on Navistar International (NYSE: NAV) after the company's Mid America Truck Show presentation.

Volkmann notes, "NAV hosted a booth tour and management Q&A at the Mid America Truck Show. The message was upbeat regarding market share gains and sequential improvement in profitability. The company's new OnCommand telematics system may help the company manage its warranty exposure. We believe much of recent weakness is likely shorting against the latest convertible bond offering. We continue our BUY rating with PT and estimates unchanged."

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 $31.65 yesterday.

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