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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
Sep 2014BarclaysMaintainsUnderweight
Sep 2014UBSMaintainsNeutral
Aug 2014Vertical ResearchDowngradesSell

View More Analyst Ratings for NAV
View the Latest Analyst Ratings

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

 

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