Navistar International (NAV) PT Raised to $40 at Stifel Following 3Q

Stifel raised its price target on Navistar International (NYSE: NAV) to $40.00 (from $26.00) while maintaining a Hold rating following the company's 3Q. Results did a lot to help instill confidence in the turnaround underway at the company.

Navistar reported F3Q17 adjusted EBITDA of $194 million, nearly triple the 2Q level and on track with the company's full-year guidance. Heading into the quarter, Stifel viewed the company's guidance for full-year adjusted EBITDA to be up y/y as attainable, but containing significant risk, given the substantial ramp implied for the 2H.

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