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

In a report published Friday, Goldman Sachs reiterated its Neutral rating on Navistar International

. 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.