UPDATE: Barrington Research Cuts PT to $50 on Navistar International
Barrington Research lowers its price target $15 to $50 on Outperform-rated Navistar International (NYSE: NAV) due to potential compliance issues, but remains optimistic they will be resolved.
Barrington Research says, "We are maintaining our OUTPERFORM rating due to NAV's low valuation. The year 2012 will likely be a messy period due to uncertainty and delay in transition to EPA compliance. However, EPA compliance should soon get resolved. NAV is one of the cheapest stocks in our Barrington Industrial Universe trading at a 2012 EV/EBITDA of 4.7x."
NAV closed at $39.63 a share yesterday.
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