UBS Cuts Estimates and PT on Navistar International (NAV) After Q2 Miss; N. American Truck Rebound Still Compelling

June 8, 2012 10:17 AM EDT Send to a Friend
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Price: $37.61 --0%

Rating Summary:
    5 Buy, 15 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 13
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UBS maintains a 'Buy' on Navistar International (NYSE: NAV) price target of $34.00 (from $47.00).

Analyst, Henry Kirn, said, "While results were disappointing, we continue to see upside to NAV as investor expectations are now lower, the NA truck rebound continues to unfold and valuation is attractive. Additionally, we see potential catalysts, including EPA certification, increased expansionary business contribution, military awards and M&A, any of which could drive shares higher. Our revised PT is based on 25-30% discount (unchanged) to mkt on FY13E EPS (was based on FY12E) plus $3/cash (unchanged)."

"...we are lowering our FY12, FY13 & FY14 EPS estimates to $0.45, $3.50 & $4.25, from $4.25, $6.00 & $6.50."

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.




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