Bobby Harvey
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Stifel Upgrades Navistar On Long-Term Potential, Turnaround Story

A turnaround is underway at Navistar International Corp NAV, and it's only the beginning, according to Stifel.

The Analyst

Stifel analyst Michael Baudendistel upgraded shares of Navistar from Hold to Buy and increased his price target from $45 to $50.

The Thesis

Navistar's promising new products and recent performance have convinced Stifel of the company's positioning and execution within the market. 

The new 12.4-liter A26 engine has opened up half of the Class 8 market to Navistar, Baudendistel said.

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