Truck maker Navistar (NAV) is advancing for a second day after the company reported a first quarter loss that was not as bad as expected yesterday. The company's revenues fell a bit short of analysts' consensus estimate, though it also announced that it had $1.19B of cash on hand at the end of the quarter, exceeding its previous forecast. The truck maker also announced yesterday that it had promoted COO Troy Clarke to CEO, effective April 15. Meanwhile, in a note to investors earlier today, JPMorgan analyst Ann Duignan upgraded the stock to Overweight from Neutral, as she believes that Navistar's risk/reward outlook is now clearly positive. Duignan thinks the move to promote Clarke is "likely a sign" that Navistar has overcome its problems sooner than expected. Navistar faces several key risks, including market share pressures, but the stock is still cheap even after yesterday's large advance, wrote the analyst, who hiked her price target on the stock to $45 from $23 and added the name to JPMorgan's Analyst Focus List. In early afternoon trading, Navistar rallied $3.47, or 10.88%, to $35.36 after having risen nearly 30% yesterday. Other truck makers also advanced, with PACCAR (PCAR) rising 1.5% to $50.13 and Cummins (CMI) adding 1.5% as well to trade near $119.