Canaccord Genuity Maintains a 'Hold' on TeleNav (TNAV); Sprint Renegotiation/Negative Opex Leverage Keep Us on Sidelines
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Price: $4.79 --0%
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on TeleNav (NASDAQ: TNAV) price target lowered from $13 to $10.
Canaccord analyst, Jeff Rath, said, "We maintain our rating and have lowered our target to $10 after TNAV’s FQ1/12 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 resets the financial model."
For more ratings news on TeleNav click here and for the rating history of TeleNav click here.
Shares of TeleNav closed at $9.58 yesterday.
Canaccord analyst, Jeff Rath, said, "We maintain our rating and have lowered our target to $10 after TNAV’s FQ1/12 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 resets the financial model."
For more ratings news on TeleNav click here and for the rating history of TeleNav click here.
Shares of TeleNav closed at $9.58 yesterday.
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