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UPDATE: Goldman Sachs Reiterates Neutral Rating on Navistar International on Turnaround Progress

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UPDATE: UBS Downgrades Navistar International Corporation to Neutral, Lowers PT to $36.00
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In a report published Friday, Goldman Sachs reiterated its Neutral rating on Navistar International (NYSE: NAV).

Goldman Sachs noted, “We view the development as a positive for Neutral-rated NAV as its (1) product development schedule is on track and (2) truck margin structure is significantly stronger on CMI 15 liter engines than proprietary 13-liter engines, contrary to consensus views. NAV's truck production market share was 16% in January, up from 14% in December but below 17% in 2012. We maintain our Neutral rating as we continue to see meaningful execution risk, but moving to production on the 15 liter platform is clearly a positive.”

Navistar International Corp. closed on Thursday at $24.83.

Posted-In: Goldman SachsAnalyst Color Reiteration Analyst Ratings

 

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