UBS Maintains a 'Buy' on Navistar International (NAV); Cummins Announcement Positive, But N-T Headwinds Persist

August 3, 2012 1:07 PM EDT Send to a Friend
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Price: $32.87 +2.05%

Rating Summary:
    6 Buy, 14 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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UBS maintains a 'Buy' on Navistar International (NYSE: NAV) price target of $28.00 (from $34.00).

Analyst, Henry Kirn, said, "Given positive feedback from recent channel checks (including our July 20 trucker survey), we see the announcement that NAV will use Cummins’ (NYSE: CMI) urea-based aftertreatment system and offer Cummins’ 15 liter engines as positive for the company’s longer-term prospects."

"Reflecting lower share and higher transition costs in 2H12 and 1H13, we lower our FY12E EPS to $5.50 loss (was $1.80 loss). Our revised FY13E of $3.00 (was $3.50) reflects weaker 1H13, before share and margin rebound in 2H13E. Our FY14E EPS is unchanged at $4.25."

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 $21.44 yesterday.


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