Navistar tracks back after earnings rally

• Navistar (NAV -3%) trades lower a day after the company posted Q4 results and rallied over 7%.
• Yesterday, investors had their eyes on the strong revenue (+26% Y/Y to $2.6B on brisk demand for Class 6-8 trucks and buses) and guidance from Navistar management ("breakout" year expected), but today a downgrade from Gabelli is holding some weight.
• Gabelli dropped Navistar to Hold from Buy due to valuation concerns.
• Previously: Navistar EPS of $1.36 (Dec. 19)