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Goldman Sachs Raises AutoNavi Price Target To $21


AutoNavi Holdings Ltd. (NASDAQ: AMAP) reported 3Q10 revenues, GPM, OPM, non-GAAP EPS (ADS) of US$ 24.0mn, 70.3%, 32.0%, and US$0.14, “well above our estimates of US$ 19.0mn, 59.7%, 19.7%, and US$0.08, respectively, due to strong indash sales,” Goldman Sachs writes.

As a result, Goldman Sachs maintains its Neutral rating and has raised its 12-m TP from US$17 to US$21 still based on 29X NTM P/E.

AutoNavi Holdings Ltd. currently trades at $20.46.


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