Jefferies Downgrades AutoNavi Holdings (AMAP) to Hold On Share Loss

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Jefferies downgraded AutoNavi Holdings (NASDAQ: AMAP) from Buy to Hold with a price target of $12 (down from $17).

The firm comments, "Our industry checks suggest that AutoNavi may have lost share in providing map data to BMW’s new car models, causing auto segment revenue growth to be flattish in 2012 and overall margin expansion to be delayed to 2013. We believe AutoNavi is in transition from a B2B to a B2B+B2C company in 2012 and more synergy may come in 2013."

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 $11.62 yesterday, with a 52 week range of $8.87-$20.20.

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