TeleNav (TNAV) Has Significant Upside Opportunity - FBR

FBR analyst Christopher Van Horn is highlighted small cap auto-parts supplier TeleNav (NASDAQ: TNAV), saying it sees significant upside opportunity.

Van Horn commented, " We believe that investors in search of overlooked and under-followed stocks in the auto supplier space should consider Telenav (TNAV – Outperform). Our model gives the company minimal exposure to underlying production because its revenue ramp is largely based on incremental new business rolling on. We expect sales to increase at a 19% CAGR from FY16A (ended June 30, 2016) through FY19E. The company trades at just 0.4x FY18E sales, an attractive discount to peers."

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