Sterne Agee Reiterates Buy Rating, $50 PT on Navistar International

In a flash note published earlier on Friday, Sterne Agee reiterated its Buy rating and $50.00 price target on Navistar International NAV. Sterne Agee went on to say “We believe Navistar's streamlined cost base, revised product portfolio, stable defense segment, and multiple high-growth joint ventures will likely enable the company to deliver substantial growth during the cyclical recovery in the truck industry. Navistar has successfully managed to maintain operations at a higher level of profitability during the cyclical downturn.” Shares of Navistar were trading at $24.86 at the time of posting, down 13.65% form Thursday's market close.