Canaccord Genuity Maintains a 'Hold' on TeleNav (TNAV); Prepping For Sprint (S) Outcome
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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: 9 | New: 24
Rating Summary:
3 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
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Canaccord Genuity maintains a 'Hold' on TeleNav (NASDAQ: TNAV) price target lowered from $7.25 to $6.00.
Analyst, Jeff Rath, said, "We maintain our rating, but have lowered our target as we factor in expectations for larger losses related to the Sprint (NYSE: S) contract. Though we believe that this story continues to have significant sources for growth and value creation, the rapid transition of the business keeps the financial model in check and the Sprint renegotiation overhang keeps us on the sidelines."
For an analyst ratings summary and ratings history on TeleNav click here. For more ratings news on TeleNav click here.
Shares of TeleNav closed at $6.40 yesterday.
Analyst, Jeff Rath, said, "We maintain our rating, but have lowered our target as we factor in expectations for larger losses related to the Sprint (NYSE: S) contract. Though we believe that this story continues to have significant sources for growth and value creation, the rapid transition of the business keeps the financial model in check and the Sprint renegotiation overhang keeps us on the sidelines."
For an analyst ratings summary and ratings history on TeleNav click here. For more ratings news on TeleNav click here.
Shares of TeleNav closed at $6.40 yesterday.
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