Sterne Agee Reiterates Buy Rating, $50 PT for Navistar International Corporation
In a flash note published earlier today, Sterne Agee Group, Inc. reiterated its Buy rating and $50.00 price target for Navistar International Corporation (NYSE: NAV).
Sterne Agee went on to say “Navistar announced that its Board of Directors has adopted a Shareholder Rights Plan (the "Plan"). According to Navistar, the plan is designed to deter coercive takeover tactics including the accumulation of shares in the open market or through private transactions, and to prevent an acquirer from gaining control of the company without offering a fair price to shareholders. The poison pill will be effective June 29th and will expire on June 18, 2013.”
Navistar International Corporation closed yesterday at $26.45.
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