Stock Insights: Navistar, AutoNavi, St. Jude Medical June 12th

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Navistar International Corp. (NYSE:NAV): Barrington says its investment thesis on Navistar is unchanged following the company’s Q2 results and today’s negative U.S. Court of Appeals ruling regarding the EPA’s interim ruling that allowed Navistar to pay fines in order to sell the noncompliant engines. Barrington believes Navistar’s valuation and prospects as an acquisition target should support the stock at the current levels, and estimates shares could be worth $50-$75 to a strategic acquirer. The firm maintains an Outperform rating on the stock. Wells Fargo said that an appeal court ruling to overturn the EPA’s interim decision to allow Navistar (NYSE:NAV) to pay fines in order to sell its noncompliant engines may impair the company’s profitability and could potentially cause Navistar to lose market share. Wells Fargo also said the ruling could benefit Navistar competitors, including Cummins (NYSE:CMI), Paccar (NASDAQ:PCAR), Volvo (VOLVY) and Daimler (DDAIF).

AutoNavi Holdings Limited (NASDAQ:AMAP): Goldma said AutoNavi (NASDAQ:AMAP) may be the supplier of iOS6 map data and the service supplier in China. The firm said AutoNavi checks indicate its maps are being used in the iOS6 beta version and notes neither Apple (NASDAQ:AAPL) nor TomTom have map date or service licenses in China.

St. Jude Medical Inc. (NYSE:STJ): St. Jude Medical shares defended at JPMorgan. Jefferies said there is a new MAUDE report of St Jude Medical’s Duranta with externalized cables in the FDA’s database. The lead was tested non-invasively and found to be under-sensing ventricular fibrillation. The firm said all leads are prone to some failure and notes it is not clear if this is a new failure, but expects it to keep up pressure on St. Jude’s ICD leads. Shares are Neutral rated.

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