Piper Jaffray Initiates Coverage on TeleNav, Inc. (TNAV) with a Neutral; Mobile Navigation Leader

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Piper Jaffray initiates coverage on TeleNav, Inc. (Nasdaq: TNAV) with a Neutral rating. PT $6.

Piper analyst says, "TeleNav is a pioneer within mobile navigation and location-based services, a fast-growing industry. Despite being a leader in its field, TeleNav faces substantial competitive and customer risks. We rate TeleNav Neutral as we believe these risks cloud the company's potential growth."

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

Shares fell $0.06 yesterday to close at $5.25. The 52-wk trading range is $4.65 - 11.48.

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