Jefferies Starts AutoNavi Holdings (AMAP) at Hold

Jefferies initiates coverage on AutoNavi Holdings (NASDAQ: AMAP) with a Hold. PT $22.00.

The firm said, "We initiate coverage of AutoNavi with a Buy and PT of US$22. We expect AutoNavi’s duopoly position in its core business of in-dash navigation to be sustained, due to high barriers to entry. The accelerating smartphone growth and 3G adoption in China drives AMAP's mobile phone pre-instalment business and its long-term goal of new mobile Internet LBS monetization. We expect margin expansion starting from 2012."

For more ratings news on AutoNavi Holdings click here and for the rating history of AutoNavi Holdings click here.

Shares of AutoNavi Holdings closed at $15.26 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• TD Cowen Resumes EQT Corp. (EQT) at Hold
• Discover Financial (DFS) PT Raised to $145 at Jefferies
• Lake Street Capital Markets Starts Cellebrite (CLBT) at Buy