Market Overview

UPDATE: DA Davidson Increases PT to $28 on Navistar International Upon SCR Incorporation

Share:
Related NAV
Watch These 7 Huge Put Purchases In Wednesday Trade
Watch These 7 Huge Put Purchases In Tuesday Trade

In a recently released note, D.A. Davidson reiterated its Neutral rating on Navistar International (NYSE: NAV) and increased its price target from $23 to $28.

In the report, D.A. Davidson stated, "Today Navistar announced it will incorporate Selective Catalytic Reduction (SCR) into its current in-cylinder technology. Management hosted a conference call to announce the move but did not field questions from investors. The company refrained from addressing guidance but acknowledged that development costs would increase. … We are maintaining our NEUTRAL rating on the shares, but increasing our target price from $23 to $28 as there is now some clarity on the engine strategy. The timing of certification and associated costs are still highly uncertain."

Shares of Navistar International were trading at $24.12 at the time of posting, down 15.22 percent from Thursday's market close.

Latest Ratings for NAV

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

View More Analyst Ratings for NAV
View the Latest Analyst Ratings

Posted-In: D.A. DavidsonAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (NAV)

View Comments and Join the Discussion!