UPDATE: Goldman Sachs Reiterates Neutral Rating, Lowers PT for Navistar International
In a company update published earlier today, the Goldman Sachs Group, Inc. reiterated its Neutral rating for Navistar International Corporation (NYSE: NAV), but lowered its price target from $33.00 to $25.00.
Goldman Sachs went on to say “While we expect the EPA to ultimately approve Navistar's engine submission, we believe profitability on the platform will prove challenging as the new engine requires several increasingly complex, low production volume components and, as a result, also higher per unit warranty repair costs.”
Navistar International Corporation closed on Friday at $24.11.
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