Goldman Sachs Reiterates Bullish Stance on AutoNavi (AMAP) Citing Future Catalysts
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Price: $11.47 -0.61%
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade AMAP Now!
Goldman Sachs reiterated its Buy rating on AutoNavi Holdings (NASDAQ: AMAP) although the price target was trimmed from $18.80 to $17.30.
The firm cited two recent observations: "1) We see increasing possibility of AutoNavi winning back BMW’s next gen platform in 2015... 2) Wireless/internet segment has become the major driver of business. We expect monetization of mobile internet service in 2013 with wireless segment contributing 30%/38%/42% of total revenue in 2012E/13E/14E.
The firm raised FY12 non-GAAP EPS estimates from $0.93 to $0.97 and FY13 was trimmed from $1.19 to $1.05. The firm also introduced FY13 of $1.40.
For an analyst ratings summary and ratings history on AutoNavi Holdings click here. For more ratings news on AutoNavi Holdings click here.
Shares of AutoNavi Holdings closed at $12.00 yesterday, with a 52 week range of $8.87-$20.20.
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The firm cited two recent observations: "1) We see increasing possibility of AutoNavi winning back BMW’s next gen platform in 2015... 2) Wireless/internet segment has become the major driver of business. We expect monetization of mobile internet service in 2013 with wireless segment contributing 30%/38%/42% of total revenue in 2012E/13E/14E.
The firm raised FY12 non-GAAP EPS estimates from $0.93 to $0.97 and FY13 was trimmed from $1.19 to $1.05. The firm also introduced FY13 of $1.40.
For an analyst ratings summary and ratings history on AutoNavi Holdings click here. For more ratings news on AutoNavi Holdings click here.
Shares of AutoNavi Holdings closed at $12.00 yesterday, with a 52 week range of $8.87-$20.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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