Barclays maintains an 'Equalweight' on Navistar (NAV); Longer-Term Opportunities for NAV Defense but Challenges Remain
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Price: $44.50 --0%
Rating Summary:
9 Buy, 14 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 14 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Navistar International (NYSE: NAV) price target of $44.00.
Barclays analyst says, "We attended the Annual Navistar Military Overview at the Association of the United States Army Annual Meeting. We think NAV is potentially positioned for longer-term military opportunities, but continued scrutiny around DoD spending means that the earnings trajectory of the relatively high margin military business remains somewhat uncertain. Even though questions persist around DoD spending, we believe that NAV Defense has the U.S. and foreign military opportunities to reach NAV's longer-term guidance range of $1.5-2.0bn in FY12."
"We believe that NAV is well positioned to support existing vehicles that are currently in the field. While it seems that new contracts to expand the U.S. fleet are limited in the near-term, we believe that NAV has the parts and service support to prevent a significant decline in its military revenue stream."
For more ratings news on Navistar International click here and for the rating history of Navistar International click here.
Shares of Navistar International closed at $37.61 yesterday.
Barclays analyst says, "We attended the Annual Navistar Military Overview at the Association of the United States Army Annual Meeting. We think NAV is potentially positioned for longer-term military opportunities, but continued scrutiny around DoD spending means that the earnings trajectory of the relatively high margin military business remains somewhat uncertain. Even though questions persist around DoD spending, we believe that NAV Defense has the U.S. and foreign military opportunities to reach NAV's longer-term guidance range of $1.5-2.0bn in FY12."
"We believe that NAV is well positioned to support existing vehicles that are currently in the field. While it seems that new contracts to expand the U.S. fleet are limited in the near-term, we believe that NAV has the parts and service support to prevent a significant decline in its military revenue stream."
For more ratings news on Navistar International click here and for the rating history of Navistar International click here.
Shares of Navistar International closed at $37.61 yesterday.
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