Deutsche Bank Downgrades Navistar International (NAV) to Hold; Results Significantly Weaker Than Expected
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Price: $38.03 --0%
Rating Summary:
5 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 1 | Down: 7 | New: 8
Rating Summary:
5 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 1 | Down: 7 | New: 8
Trade NAV Now!
Deutsche Bank downgraded Navistar International (NYSE: NAV) from Buy to Hold with a price target of $35.00 (from $50.00).
Deutsche analyst said, "NAV reported a FQ2 loss of $1.99 per share, significantly below cons of $0.67 profit and our est of $0.89 profit. FQ2 manufacturing segment profit of $7MM was significantly worse than our $237MM est. Despite upside to our price target, we are downgrading NAV to Hold based on low visibility into near-term earnings power as well as the uncertain timetable for EPA certification of NAV’s Class 8 engine...We are reducing our 2012 and 2013 EPS ests to $1.40 and $3.50."
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 $24.11 yesterday, with a 52 week range of $20.21-$59.06.
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Deutsche analyst said, "NAV reported a FQ2 loss of $1.99 per share, significantly below cons of $0.67 profit and our est of $0.89 profit. FQ2 manufacturing segment profit of $7MM was significantly worse than our $237MM est. Despite upside to our price target, we are downgrading NAV to Hold based on low visibility into near-term earnings power as well as the uncertain timetable for EPA certification of NAV’s Class 8 engine...We are reducing our 2012 and 2013 EPS ests to $1.40 and $3.50."
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 $24.11 yesterday, with a 52 week range of $20.21-$59.06.
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