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Craig Hallum started coverage on shares of TeleNav (NASDAQ:TNAV) in a research note issued on Tuesday. The firm set a “buy” rating and a $11.00 price target on the stock. Craig Hallum’s target price would indicate a potential upside of 128.69% from the company’s current price.

TeleNav (NASDAQ:TNAV) traded up 9.15% during mid-day trading on Tuesday, hitting $5.25. 734,913 shares of the company’s stock traded hands. TeleNav has a one year low of $4.70 and a one year high of $7.32. The stock has a 50-day moving average of $5.35 and a 200-day moving average of $5.82. The company’s market cap is $207.2 million.

TeleNav (NASDAQ:TNAV) last released its earnings data on Thursday, July 31st. The company reported ($0.12) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.21) by $0.09. The company had revenue of $34.40 million for the quarter, compared to the consensus estimate of $38.00 million. TeleNav’s revenue was down 27.0% compared to the same quarter last year. Analysts expect that TeleNav will post $-0.70 EPS for the current fiscal year.

TeleNav, Inc, formerly TNAV Holdings, Inc, is a provider of location based services (NASDAQ:TNAV), including voice guided navigation on mobile phones.

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