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UPDATE: JP Morgan Upgrades Navistar International to Neutral on Balanced Risk/Reward

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Navistar Out Of The Woods, But A Struggling Macro Environment Isn't Helping
Benzinga's Top Downgrades

JP Morgan raises its rating on Navistar International (NYSE: NAV) from Underweight to Neutral with the same $30 price target on shares.

JP Morgan notes, "We are upgrading NAV from Underweight to Neutral, as we believe that after last week's miss and yesterday's Court of Appeals ruling coupled with the number of companies expressing some interest in the name, the upside and downside risks are balanced, in our view. We continue to view NAV cautiously; we note several ongoing risks such as timing of EPA approval and ongoing execution risks. That said, in the worst case scenario, i.e., no EPA approval, we believe that the company would likely have to turn to a partner with engine technology."

NAV closed at $27.15 on Tuesday.

Latest Ratings for NAV

DateFirmActionFromTo
Jun 2016Piper JaffrayDowngradesOverweightNeutral
Jun 2016Stifel NicolausDowngradesHoldSell
Mar 2016SusquehannaMaintainsNeutral

View More Analyst Ratings for NAV
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Price Target Intraday Update Analyst Ratings

 

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