NVT - Source of GPS Software, Data, and Maps Message Board

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Technology Stocks : NVT - Source of GPS Software, Data, and Maps

NVT 114.34

+9.6%

Oct 31 3:59 PM EST

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To: GPS Info who wrote (157)	6/25/2007 1:26:04 PM
From: tech101	of 211

Expecting NavTeq To Move On Bullish BoA Note Posted on Jun 25th, 2007 with stocks: NVT Notable Calls submits: Banc of America is out positive on NavTeq (NYSE:NVT) raising their 2007, 2008 and 2009 EPS estimate for Navteq to $1.40, $2.30 and $2.90 from $1.30, $1.70 and $2.15 respectively. May point of sale portable navigation device [PND] sales data, which the firm received last week, continues to show strong price elasticity of demand in the 6.5-7x range. As a result, they are increasing U.S. price elasticity assumption for 2007-2009. Sales to the portable navigation device end market currently makes up roughly 25% of Navteq's revenues, so they now expect Navteq's total revenue growth to average 24% over the 2007-2009 timeframe from 17% prior. BAC's target goes to $56 from $45. Reiterates Buy. Portable navigation market really is taking off in the U.S. Two percent penetration of portable navigation devices and declining prices should keep elasticity at these high levels for at least another 2-3 years. So they are raising their estimates for 2007, 2008 and 2009 portable navigation end market unit growth to 200%, 120% and 50% y/y from 160%, 100% and 40% prior. Firm notes they could still be conservative as they are assuming elasticity to decline 2 points over the next 2 years and are discounting no growth coming from countries outside North America and Europe. ce.seekingalpha.com:80/article/39295?source=d_email&u=54414

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