UPDATE: Longbow Research Downgrades Navistar International (NAV) to Neutral

(updated to add analyst comment)

Longbow Research analyst Faheem Sabeiha downgraded Navistar International (NYSE: NAV) from Buy to Neutral.

The analyst comments "We remain positively biased on these names as we estimate each one will generate higher trough over trough earnings driven by growth in their aftermarket businesses, share gains across their markets, growth outside of North America Class 8 and operational improvements. These stocks are trading below prior peak multiples and we’re likely to continue seeing positive earnings surprises over the next few quarters from price/cost tailwinds and share buybacks. However, we are already in Q2, production is likely to peak in June and we can’t continue to justify our BUY ratings with production cuts and lower earnings on the horizon."

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 $34.08 yesterday.

You May Also Be Interested In

• JPMorgan Downgrades JD Logistics Inc (2618:HK) (JDLGF) to Neutral
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
• UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat