Deutsche Bank Downgrades TeleNav (TNAV) to Hold

July 30, 2010 8:39 AM EDT Send to a Friend
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Price: $6.02 +1.18%

Rating Summary:
    3 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Deutsche Bank downgrades TeleNav, Inc. (NASDAQ: TNAV) from Buy to Hold. PT cut from $12 to $9

Deutsche analyst says, "Setting aside long-term concerns, the company’s core business did well in the quarter. They saw growth across customers and segments. Sprint’s growth remains a very positive contributor in the quarter, but business grew elsewhere including AT&T (NYSE: T), newly-won US Cellular, AT&T, China Mobile and their non carrier businesses as well. In MRM, they won a major contract to provide asset tracking for a large manufacturer (which we believe is Xerox (NYSE: XRX))."

To see all the upgrades/downgrades on shares of TNAV, visit our Analyst Ratings page.

TeleNav, Inc. is a provider of wireless location-based services (LBS), including global positioning system (GPS) navigation, mobile resource management (MRM), asset GPS tracking (AVL) and local search.


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