Deutsche Bank Starts Navistar International (NAV) at Hold

September 6, 2016 4:45 PM EDT
Get Alerts NAV Hot Sheet
Price: $29.23 -1.75%

Rating Summary:
    3 Buy, 17 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Deutsche Bank initiated coverage on Navistar International (NYSE: NAV) with a Hold rating and a price target of $14.00.

Analysts Nicole DeBlase said, "Management has guided for ~$0.8bn FY16e year-end Manufacturing cash balance; assuming our $570m FY17e cash requirements estimate is correct and typical seasonal cash use trends prevail, we come to ~$0.8bn year-end cash in FY17e, implying a ~$0.3bn buffer vs. Navistar’s self-proclaimed $0.5bn minimum balance. While we do not foresee a liquidity problem today, we highlight three potential incremental cash outflows: 1) Weaker than expected industry trends; 2) EPA fine; and 3) Y/Y increase in pension contribution."

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 $14.07 yesterday.

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