Canaccord Genuity Maintains a 'Hold' on TeleNav (TNAV); Still in Midst of Transition

Canaccord Genuity maintains a 'Hold' on TeleNav (NASDAQ: TNAV) price target raised from $6 to $6.50.

Analyst, Jeff Rath, said, "We maintain our rating and have increased our target to $6.50 after TNAV’s FQ3/12 report. 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 (NYSE: S) 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 $6.51 yesterday.

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