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

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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
Oct 2016JefferiesMaintainsBuy
Sep 2016UBSMaintainsNeutral
Sep 2016Goldman SachsUpgradesSellNeutral

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

 

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