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Navistar (NAV) Stock Downgraded to 'Underperform' at Macquarie

NEW YORK (TheStreet) -- Navistar Int'l (NAV) stock rating was reduced to "underperform" from "neutral" at Macquarie, the Fly reported.

The firm has a $15 price target on shares of the Lisle, IL-based truck manufacturer.

The stock soared yesterday after Volkswagen (VLKAY) confirmed a 16.6% stake in the company and said it had entered into a strategic alliance.

Macquarie said the Volkswagen partnership removes the likelihood of further mergers and acquisitions, allowing investors to value the company more on...


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