Navistar (NAV) 'Cheap' Despite 'Messy' Quarter - Jefferies
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Price: $44.50 --0%
Rating Summary:
9 Buy, 14 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 14 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies reiterated a Buy rating and $45 price target on share of Navistar International (NYSE: NAV) despite what it called a "messy" quarter.
Analyst Stephen Volkmann notes, "NAV remains the cheapest EV/Sales name in our coverage, and we believe the ship is turning, albeit slowly. Despite a messy quarter, cash balances and EBITDA appear to be bottoming and NAV continues to make progress on its engine strategy. We believe that 2013 will improve sequentially ramping into a profitable 2014."
The firm cut Q3 EPS estimate from ($0.23) to ($1.50), FY 2013 EPS estimate from ($2.20) to ($7.48).
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 $34.31 yesterday.
Analyst Stephen Volkmann notes, "NAV remains the cheapest EV/Sales name in our coverage, and we believe the ship is turning, albeit slowly. Despite a messy quarter, cash balances and EBITDA appear to be bottoming and NAV continues to make progress on its engine strategy. We believe that 2013 will improve sequentially ramping into a profitable 2014."
The firm cut Q3 EPS estimate from ($0.23) to ($1.50), FY 2013 EPS estimate from ($2.20) to ($7.48).
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 $34.31 yesterday.
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