Wells Fargo Downgrades Navistar International (NAV) to Market Perform; Cutting Estimates and Price Target
Tweet Send to a FriendGet Alerts NAV Hot Sheet
Price: $35.88 -1.56%
Rating Summary:
5 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade NAV Now!
Wells Fargo downgraded Navistar International (NYSE: NAV) from Outperform to Market Perform, price target range lowered from $48-50 to $37-40.
Analyst, Andrew Casey, said, "NAV has many hurdles to overcome, some company specific (EPA emissions certification impact on margin, near-term negative mix shift, and ability to regain truck market share with internally produced engines) and some industry related (current soft Class 5-8 industry
demand and uncertain future military demand). With revised views, we now
believe there are too many challenges facing NAV to achieve FY2012 earnings
guidance (i.e., $4.25-5.25) as well as consensus' FY2012E $4.73.'
Casey doesn't see the shares as 'expensive', but doesn't see any catalysts either. Q2 EPS estimate cut from $1.76 to $0.45, FY12 to $2.58 from $4.50, and FY13 to $4.75 from $7.00.
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 $36.93 yesterday, with a 52 week range of $30.01-$71.49.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Andrew Casey, said, "NAV has many hurdles to overcome, some company specific (EPA emissions certification impact on margin, near-term negative mix shift, and ability to regain truck market share with internally produced engines) and some industry related (current soft Class 5-8 industry
demand and uncertain future military demand). With revised views, we now
believe there are too many challenges facing NAV to achieve FY2012 earnings
guidance (i.e., $4.25-5.25) as well as consensus' FY2012E $4.73.'
Casey doesn't see the shares as 'expensive', but doesn't see any catalysts either. Q2 EPS estimate cut from $1.76 to $0.45, FY12 to $2.58 from $4.50, and FY13 to $4.75 from $7.00.
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 $36.93 yesterday, with a 52 week range of $30.01-$71.49.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Dollar Tree (DLTR) Beats But Looks Stretched - Jefferies
- UPDATE: A.G. Lafley Gives Procter & Gamble (PG) Investors 'New Hope', UBS Upgrades to Buy
- Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
Earnings, Wells Fargo
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
