UPDATE - Canaccord Genuity Downgrades TeleNav (TNAV) to Hold; More Rapid Transition Resets Financial Model
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Price: $4.79 --0%
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
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UPDATE - Canaccord Genuity downgrades TeleNav (Nasdaq: TNAV) from Buy to Hold. PT lowered to $13.
Canaccord analyst, Jeff Rath, said, "We are lowering our rating to HOLD and our target to $13 after TNAV’s FQ4/11 report. Though we believe that this story continues to have significant sources for growth and value creation, it is probably more likely a H2/12 event. For now, the rapid transition of the business unfortunately resets the financial model."
Canaccord analyst, Jeff Rath, said, "We are lowering our rating to HOLD and our target to $13 after TNAV’s FQ4/11 report. Though we believe that this story continues to have significant sources for growth and value creation, it is probably more likely a H2/12 event. For now, the rapid transition of the business unfortunately resets the financial model."
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